Everyday Kiwi families are applying cost cutting measures to their motoring purchases and buying smaller cars according to figures released today by Turners Auctions.
The report on second-hand car sales from the country’s largest vehicle auctioneers reveals sales of cars less than 1.6 litres have increased 13% from the previous quarter ending March 2009. The increased demand for these smaller cars has ultimately resulted in increased prices.
“The average vehicle price in this category is up 5% or almost $300 to around $5,800 which is the highest it has been since January last year” says Todd Hunter Turners spokesperson.
Despite pressures on the weekly budget and a 4% increase in fuel costs over the last quarter, our love of large cars remains steady in the 3.0 litre plus category.
Sales of petrol-fuelled vehicles have dropped under the 90 per cent threshold where it had comfortably sat since the start of 2008. Diesel sales reached double digits for the first time, and now account for 11% of all cars sold.
Our love affair with the Holden Commodore continues and it takes out the top spot as favourite make and model for the fourth consecutive quarter while Toyota Corollas and Subaru Legacys battle it out for second and third as they have all year. The massive reduction in Japanese import vehicles will be contributing to the decline of the Legacy. Imports from Japan are down 54% June YTD.
The Toyota Hiace has rocketed up six places from 10th to fourth as business and particularly tradesmen quit stock, and leases are terminated early.
White and silver remain the most popular colours accounting for almost half (46.7 per cent) the second-hand vehicle cars sales as they have for the last 18 months.