Boom in sales of new cars

Press, 6 August 1981, Page 20

Boom in sales of new cars

The sale of new cars is booming in New Zealand in spite of record price increases, reports the Press Association. Car buyers have spent more than $52 million on new models so far this year — two million dollars worth of vehicles going out of the showrooms each week. The car industry sees no end to the boom and is preparing for the best year since 1973. One source has, predicted that more than 93,000 new cars could be sold by the end of this year. In the first six months of this year 44,061 new cars, were sold, compared with 37,070 during the corresponding period last year — an increase of nearly 16 per cent.

Last year, also a good year for the motor industry, 75,000 new cars were built and sold in New Zealand. Every month has so far been ahead of the same month in 1980, and the latest figures for June show a big increase of 27.1 per cent. More than ' 7870 new cars were sold in June, compared with 6195 the previous June. The boom has surprised many experts who predicted that spiralling car prices would hit car sales by the middle of this year. Prices have risen faster than at any time in New Zealand’s motoring history. For instance, a Ford Cortina 2.0 L, which cost $11,085 at the beginning of the year, is now $12,575. Some model prices have increased even more.