Car sales up again

Press, 31 October 1977, Page 12

Car sales up again

PA Wellington The market for new cars continued to recover last month after almost collapsing in July. Passenger car sales during September were 6120 — up 533 on those in August, and up 1702 on July’s sales. The market recovery is expected to continue this month after the Government’s decision not to relax stringent hire-pur-chase regulations. Motor dealers believe motorists were holding back from buying cars in recent months in expectation of the hire-pur-chase regulations’ being relaxed. The hire-purchase regulations require new cars to be sold for cash, and used cars for either cash or 60 per cent deposit and

the balance over 12 months. Though new car sales are improving the market is still unhealthy, nd some dealers are unable to offer attractive trade-in prices for used cars. The top-selling manufacturer for September was Ford, which sold 1326 cars for 21.7 per cent of the market. Though Ford has led the market in recent months, the market lead for the first nine months of the year is held by the New Zealand Motor Corporation. In September the Motor Corporation was second with 1172 cars sold for a market share of 19.1 per cent, and General Motors was third with 1115 and 18.2 per cent. Todd Motors was fourth with 988 cars sold for a

market share of 16.1 per cent, and Toyota was the top Japanese manufacturer with 545 and 8.9 per cent. Datsun, which has reo ently opened its new assembly plant in Auckland, was sixth with 536 and 8.8 per cent, and Mazda seventh with 232 and 3.8 per cent. Mazda’s market share is likely to improve in coming months after the recent introduction of its rationalisation. Subaru, a recent Japanese entry to the New Zealand market, is going ahead with plans to extend its model range in spite of its assembly rationalisation. Subaru cars have been assembled in Waitara but that factory will be closed and the assembly work transferred to Otahuhu.