5 Nov 2013

New vehicle sales soar

7:00 am on 5 November 2013

Sales of new vehicles soared in October with registrations of new commercial vehicles up 33%.

That's the highest figure for October since the Motor Industry Association began collecting registration numbers in 1981.

Year-to-date registrations are up more than 26% on the same 10 months of 2012.

The association's chief executive, David Crawford, says the strong uplift reflects growing economic confidence.

Among the range of factors affecting the demand for vehicles was tradespeople buying because the Christchurch rebuild was giving them confidence.

There was also a lift in the replacement of heavy-duty vehicles, and in luxury vehicles, and both movements suggested increased confidence in the economy.