A Surge in Used Car Imports
April saw the highest number of used passenger vehicle imports into New Zealand for any month in 2024, with a staggering 11,638 units. This impressive influx brings the year-to-date total to 37,850. Japan continues to dominate the import market, accounting for 98% of the total with 11,411 units. Additional imports included 164 vehicles from Australia, 20 from Singapore, 17 from the US, and 14 from the UK.
Robust Growth in Used Car Sales
The surge in imports was matched by a notable increase in sales. Dealers sold 14,327 second-hand cars to the public in April, an 8.4% increase from 13,214 in April 2023. This growth underscores the rising demand for quality used vehicles. Additionally, there were 12,801 public-to-trader deals, up 12.3% from 11,399 in the same period last year, alongside 39,525 private transactions.
Jan Japan Motors Ltd's Sales Success
Jan Japan Motors Ltd had a particularly successful month, selling 161 cars in April 2024 compared to 109 in April 2023. This remarkable increase highlights our commitment to providing top-quality used vehicles and exceptional customer service. The Toyota Prius and Suzuki Swift were our top sellers, continuing to attract buyers with their reliability and performance.
Regional Sales Performance
Auckland led the regional sales with 4,869 cars sold in April 2024, slightly up from 4,842 in April 2023, capturing 34% of the total market. Canterbury followed with a 14.2% market share, selling 2,033 cars, reflecting a 14.2% increase year-over-year. Waikato and Wellington regions held third and fourth places with market shares of 10.4% and 9.5%, respectively.
Top-Selling Models
The Toyota Aqua topped the sales chart in April 2024 with 847 units sold. This small hatchback continues to impress customers with its reliability and fuel efficiency. The Toyota Prius followed with 774 units, maintaining its popularity for its eco-friendly features. Surprisingly, the Mazda Axela came in third with 374 units sold, reflecting a growing interest in this versatile compact model.
Causes of the Rise in Used Car Sales
Several factors have contributed to the rise in used car sales:
- Economic Factors: Many consumers are looking for cost-effective options due to economic uncertainties and inflation. Used cars offer a more affordable alternative to new vehicles, providing value without compromising quality.
- Increased Supply: The high number of imports, particularly from Japan, has increased the availability of quality used vehicles in the market.
- Changing Preferences: Consumers are becoming more environmentally conscious and opting for fuel-efficient and hybrid models, many of which are readily available in the used car market.
- Depreciation Rates: New cars depreciate quickly, making used cars a more attractive option as they offer better value for money over time.
Decline in New Car Sales
Contrary to the booming used car market, new car sales in New Zealand continued to decline. Year-to-date sales in 2024 are 10.4% lower than in 2023 and 23.9% lower than in 2022. For April 2024, total new vehicle sales amounted to 9,238 units, highlighting the growing preference for used vehicles among consumers.
For the fourth month in a row, there were no fully electric nameplates represented in the top 10 — the market for pure plug-ins still struggling in the wake of the National Government’s decision to scrap the Clean Car Discount scheme.
Causes of the Decline in New Car Sales
- Economic Uncertainty: Financial uncertainties and rising living costs have made consumers more cautious about making significant investments, such as purchasing new cars.
- Policy Changes: The scrapping of the Clean Car Discount scheme has impacted the attractiveness and affordability of new electric vehicles, which has led to a decline in their sales.
- Depreciation: New cars lose value rapidly, leading consumers to opt for used cars that offer better long-term value.
- Global Supply Chain Issues: The automotive industry continues to face supply chain disruptions, affecting the availability and delivery times of new vehicles, pushing consumers towards the readily available used car market.
Why Choose Jan Japan Motors Ltd?
At Jan Japan Motors Ltd, we pride ourselves on offering a wide range of high-quality used Japanese vehicles that cater to diverse needs and preferences. Whether you're looking for a compact city car like the Toyota Aqua, a hybrid like the Prius, or a reliable sedan like the Mazda Axela, we have something for everyone.
Our experienced team is dedicated to helping you find the perfect vehicle that fits your lifestyle and budget. Visit our showroom today to explore our extensive inventory and take advantage of the incredible deals available this month.
For more information, visit our website or give us a call. We look forward to helping you drive away in your dream car!
Note: Prices and promotions are subject to change. Please visit our website or contact us for the most current information.
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