Car registrations hit nine-year low

Press, 18 February 1989, Page 32

Car registrations hit nine-year low

PA Wellington New car registrations hit a nine-year low in 1988, as the effects of recession and tariff changes bit deeply into the car industry. Just 71,271 cars were registered in 1988, excluding vehicles first registered overseas, according to N.Z. Post figures. This was the lowest annual figure since 68,159 cars were newly registered in 1979. However, the industry was showing signs of recovery by the last three months of the year, with registrations up on the same months a year earlier. New registrations last year were 8 per cent down on the 77,499 in 1987.

An indicator of consumer demand, registrations hit a low in April when 4566 new registrations were recorded. Expectation of lower import tariffs also hurt car sales before July. However, the latest figures show there were 5299 vehicles newly registered in December — 26 per cent higher than in the same month a year earlier. October registrations were up 8.5 per cent on the same month a year earlier, and November registrations were up 5 per cent. Although registrations fell from November to December, this is regarded by the industry as a seasonal pattern.