New vehicle demand expected to soften after record 2018 registrations

Tue, 08 Jan 2019

By Rebecca Howard Jan. 8 (BusinessDesk) - New Zealand new vehicle registrations hit a record in 2018 for the fifth year in a row but the market is now expected to soften, the Motor Industry Association said. “Given current global economic factors, distributor expectations for 2019 indicate a softening of the market. Further steady growth in the new vehicle sector above 2018 outturn is not expected," said MIA chief executive David Crawford. The market has been buoyed by low interest rates, record migration and tourism arrivals. While in...

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