Record car sales boost Holden NZ, Mercedes-Benz NZ revenue in 2016

Mon, 08 May 2017

By Rebecca Howard May 8 (BusinessDesk) - Revenue at Holden New Zealand and Mercedes-Benz New Zealand rose in calendar 2016 as new car sales continue to top records, but both companies also reported a higher cost of sales, largely to related entities, which weighed on net profit. New Zealand's car market has been on a tear for the past three years, setting new records every month through that period as the country's relatively strong labour market has provided enough jobs for an expanding population. Motor Industry Association figures las...

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