WELLINGTON: New Zealand new vehicle sales surged to a record in 2014, helped by a buoyant local economy and cheaper prices.
New vehicle registrations surpassed 126,000 in calendar 2014, beating the previous record of 123,247 from 1984, and ahead of the 113,294 recorded for 2013, according to provisional figures provided by the Motor Industry Association.
Demand for new vehicles in 2014 was underpinned by a stronger local currency, with the kiwi gaining 8.3 percent against the yen during the year, helping importers reduce their prices.
Meanwhile, the underlying strength in the economy, which expanded at a 2.9 percent annual pace in the third quarter, gave consumers the confidence to spend on big ticket items like cars.
