New car sales take a dive

Press, 24 March 1977, Page 4

New car sales take a dive

PA Wellington Sales of new cars have fallen to their lowest for tlx years. Manufacturers sold 4037 new cars in New Zealand last month, the smallest number since January, 1871, when 3891 new cars were sold. February sales were 39 per cent down on the January sales of 6601 cars. Manufacturers blame the sudden fall on the Government’s lifting of the price freeze on January 1. Sales in the three months to February were buoyant

as motorists sought to beat price increases which were predicted to follow the lifting of the price freeze. Price increases for many models were announced in January, resulting in potential buyers staying away from showrooms. Manufacturers fear It could be several months before sales climb again. They claim that many motorists bought new cars in December and January to beat the lifting of the freeze. Many businesses have been hit hard by tax payments and people tra-

ditionally do not buy immediately after price increases. The market leader for February was the New Zealand Motor Corporation which sold 807 new cars for 20 per cent of the market. The strong-selling Honda Civic accounted for 174 of the company’s sales. Ford was second with 742 sales for 18.4 per cent of the market and General Motors was third with 15.5 per cent. Toyota gained fourth place with 555 sales for a

market share of 13.8 per cent and Todd Motors sold 460 new cars for 11.4 per cent.

General Motors’ third position was a strong recovery on its January position of sixth and market shares of 10.1 per cent while Todd Motors fell from second spot in January with a market share of 15.9 per cent to fifth with 11.4 per cent in February.

Datsun sold 397 new cars during February for 9.8 per cent of the market and Mazda sold 259 for 6.4 per cent.