MOTOR-VEHICLE SALES

Press, Volume CI, Issue 29950, 11 October 1962, Page 8

MOTOR-VEHICLE SALES

(.all For Easing Of Regulations

The public could suffer unduly through the substantial depreciation in value at their cars, one of their main assets, if the present hire-purchase regulations applying to motor-vehicles were continued, said the president of the New Zealand Retail Motor Trade Association (Mr R. F. East) at the opening of the association’s annual conference at Dunedin yesterday. Mr East said it was most desirable that the Government consider amending the hire-purchase regulations as they applied to the motor industry. “The present Government, in its election campaign, undertook what it regarded as unhealthy influences operating in the used-car market,” he said. “Its stated policy was to reduce the prices of used vehicles, and it must be agreed that the market 12 to 18 months ago was being held through the law of supply and demand at what was becoming an unhealthily high figure. “The Government decided to tighten the hire-purchase and credit sales stabilisation regulations very considerably, particularly on motorvehicles. and the intent behind tills action has, we consider, been fully achieved. The market has come back to a level which shows reasonable depreciation on moat makes and models, and we feel very strongly that the time has come when these regulation*, aa they apply to motor vehicle*, should be relaxed.”

Mr East said It appeared that the Government had adopted a policy erf stabilising motor-vehicle import licences, as Mr Taiboys, now Minister of Agriculture,' had told the association'* conference last year it would. It seemed it was the Government’s intention to continue along these lines. With slight extensions to the no-remittance Ifcance scheme the backlog of unsatisfied customers for new vehicles had to some extent been reduced, and des’ers were in a better position to plan ahead on their new vehicle business.