Industry News: Another strong month for imports

Used-import-registrationsUsed import registrations recorded another strong month in April, with passenger numbers the highest for the month since 2005.

The tally for the car side of the market was 11,038 units, up 16.2% from 9501, but down from the 12,000+ result in March.

April is traditionally lower than the end of financial year boom in March – with the trend going up between the months only three times since 1975. Continue reading “Another strong month for imports” »

Industry News: Record vehicle arrival figures continue

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For the second month in a row, arrivals of new and used vehicles into New Zealand topped the 26,000 mark, as importation continues at a record-breaking pace.

This month it was the turn of new vehicles to land here in greater quantities than in March, in the run up to the National Fieldays next month.

Some 4265 new light trucks, utes and vans crossed our wharves last month, bringing the total for the year to 11,572. Continue reading “Record vehicle arrival figures continue” »

Industry News: UDC Finance is NOT for sale

20141020_ANZ_1743_medWhile the ANZ bank is selling off Esanda Finance in Australia, the bank’s asset finance arm in New Zealand – UDC – is ‘definitely not for sale’.

Speaking to AutoTalk this afternoon, Tessa Price UDC’s chief executive officer says: “The Esanda sales process does not involve UDC in any way.”

UDC increased net profit after tax by 20% to $51.5 million in the year to September 30. New lending was up 18% to $1.34 billion, while total revenue was up 18% – and, significantly, UDC reduced costs to income by 27.3% in the same period. Continue reading “UDC Finance is NOT for sale” »

Industry News: Aussie car sales up 1.2% for April, up 3.5% in 2015

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Australian new car sales rose 1.2% in April 2015, with Australians buying 81,656 new passenger cars, SUVs and commercial vehicles, 946 more than in April 2014. Year-to-date, sales are up 3.5%.

A key indicator that car sales are improving in 2015 is that April 2015 (26) had the same amount of selling days as April 2014 (26) and this resulted in an increase of 36.4 vehicle sales per day.

Once again Australia’s new car market was led by sales of SUV’s which rose 17%, compared to April 2014, and light commercial sales up 3.4%. However, passenger car sales fell 10.3%. Continue reading “Aussie car sales up 1.2% for April, up 3.5% in 2015” »

Industry News: All companies will need NZ resident director

companies_pdf_logoThere may be changes needed to some businesses operating in New Zealand owned by our automotive source markets, with changes to company law that came in late last week.

Among rules will be the need for all new firms, and all firms from October 29, to have at least one director who lives in New Zealand; or lives in Australia and is also a director of an Australian incorporated company.

Other new rules include the need to state date of birth and place of birth for directors of new firms. Continue reading “All companies will need NZ resident director” »

Industry News: Hart seeking to reshape parts empire

uciNew Zealand’s richest man, Graeme Hart, is seeking to restructure his huge US auto parts business.

Reports have indicated UCI Holdings is trying to restructure it US$1.13 billion of debt so that some sections of the company could be sold, allowing the pay down of that debt, and giving Hart the ability to trim down his investment group.

The company says it expects to earn US$240 million and US$252 million in the three months ended March and adjusted earnings before interest, tax, depreciation and amortisation of US$7 million to US$11 million in the period. Continue reading “Hart seeking to reshape parts empire” »

Industry News: Another record month as sales show little sign of abating

miaThe market for new vehicles – both passenger and commercial – has continued for yet another month at a record pace.

According to registration figures released this morning by the Motor Industry Association, during April, the overall market and passenger car segment was the highest since 1989, while commercials were the highest ever.

For passenger, registrations were up 6% to 6375 units, while commercial registrations are up Continue reading “Another record month as sales show little sign of abating” »

Industry News: Commercials continue to dominate model charts

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Commercials continue to dominate model charts The top three best-selling models for the month of April were all light commercial vehicles – with the Ford Ranger continuing to stake its claim as our most popular new vehicle.

The Ranger recorded 487 units, followed by the Toyota Hilux with 401 units and the Nissan Navara with 347 units. Continue reading “Commercials continue to dominate model charts” »

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