Used motor vehicle market booming
March is the number of exoverseas registrations recorded for the month - 14,474.
owners in these private sales.
Next highest number were the dealer-to-public transactions - the traditional way of buying a used car off a dealership - which last month jumped to 18,131 vehicles. So far this year 50,657 vehicles have been sold this way.
Public-to-dealer transactions, which in almost every case is the traditional trade-in for another vehicle, rose 11.5 per cent over March last year to 15,152 vehicles. And dealer-todealer transactions rose 8.05 per cent to 8293 vehicles.
A significant statistic for March is the number of exoverseas registrations recorded for the month - 14,474, which was a rise of 19.10 per cent over March last year.
A statement from Turners says the high number of exoverseas registrations will certainly be at least partly caused by the number of used vehicles coming into the country. In March alone 19,579 were imported, an increase of more than 50 per cent on March last year.
"Most commentators are picking the economy to slow heading into the middle of an election year. Used car transactions would usually follow this, but it is difficult to imagine that on the back of such a record-breaking month." says the statement.
Record numbers of used cars are being imported to New Zealand.