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Market Update Q2 2021
Nick Auld
2021-10-27
We predict 2021 will be a record year for NZ new vehicle registrations.
NZ registrations are up YTD 58%
New car sales continue to be very strong. We anticipate that we should beat the previous record of 162,000 NZ new registrations set in 2018.
This means that as we continue to wrestle ourselves from the constraints of COVID-19 not only do we have demand now being met, but we also have some potential false demand in dealers stocking up prior to the 2022 Clean Car legislation. Adding to that we have a good supply of 4-year-old NZ new car volume from the previous record year of 2018. That tips the balance of supply and demand and is expected to begin to soften the overheated used car market.
To find out more about this and other issues discuss in this edition:
- Clean car scheme
- The road to electrification
- Tech update