New car sales pull ahead of 2015 total in New Zealand

The number of new vehicles sold in New Zealand to the end of November has already surpassed the full-year total for 2015, the Motor Industry Association (MIA) said Friday.

Monthly sales of 13,740 set a November record and were up 18.2 percent on November last year, MIA chief executive office David Crawford said in a statement.

For the year to date, sales totaled 135,544, up 9.5 on the same period last year, and exceeded the 2015 full-year sales of 134,234, said Crawford.

"Registrations of new vehicles are influenced by the economic environment. In New Zealand, the market is responding to strong net immigration, low cost of debt, strong regional economies and a high level of business confidence," said Crawford.

"It is expected these favorable economic conditions will continue into 2017."

Toyota remained the overall market leader in November with 17 percent market share, followed by Holden and Ford, both with 11 percent.

New passenger car registrations of 9,722 vehicles last month were up 20 percent year on year, making it the strongest month of November on record.

New commercial vehicle registrations of 4,018 vehicles were up 14.6 percent year on year. Endit