Posted by Blogger Name. Category:
Business confidence
,
Commercial vehicle sales
,
Economic recovery
,
Labour Force Participation Rate
Commercial motor vehicle sales are a very good indicator of business confidence. So we reckon business confidence must be at a pretty good level right at the moment; Scoop Business reports:
Best Month Ever for Sales of Light and Heavy Commercial Vehicles
David Crawford, Chief Executive Officer of the Motor Industry Association says “The strong New Zealand dollar, competitive pricing and New Zealanders confidence that the economy is heading in the right direction have all combined to help drive sales of new vehicles skywards as records continue to fall.”
“June sales of 12,519 new passenger and commercial vehicles is up 17% on June 2013 and 14% YTD on this time last year. Registrations of 4,002 new commercial vehicles for the month of June were phenomenal, not only being the strongest June sales since the MIA began collecting records for commercial vehicles in 1981, but the strongest month of any monthly commercial sales”.
There were 8,517 passenger vehicles sold during June, up 975 units (13%) on June 2013.
Year to date registrations of passenger vehicles is 4,550 units (11%) ahead of 2013.
Commercial vehicle registrations of 4,002 units were up 821 units (26%) on June 2013.
Year to date registrations of commercial vehicles is 3,134 units (21%) ahead of June 2013, reflecting a continued strong market for commercial vehicles.
This, in combination with a record Labour Force Participation Rate as at the end of March is yet another sign that businesses are optimistic about the direction New Zealand is headed in economically. Economic growth is strong, and forecast to remain strong, unemployment is forecast to drop to around 4.5% and business owners have the confidence to invest in their businesses.
The economy is humming along, despite the best efforts of Labour and the Greens to talk it down. A change of government on 20th September would run the risk of the economic recovery being stopped in its tracks, and that is the last thing New Zealand needs.
