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Need for speed as car industry continues to grow

  • News
  • April 26, 2018
Need for speed as car industry continues to grow

Kiwis are big on their food purchasing, year after year it is where the bulk of our money goes. But our second largest spending is hardly mentioned, our $8.1 billion motor vehicle industry.

According to the 2017 Retail Trade Survey, the Supermarket and grocery store industry brought in $5.3 billion in revenue for the quarter ended September 2017. Motor vehicles and parts came second in earnings with $3.3 billion for the quarter.  

Supermarkets see on average five percent growth each year, while motor vehicles are a little more sporadic, seeing seven percent growth since last year, but nine percent when compared to 2016 and 15 percent when compared to 2015.

Australian parent companies such as those who own Supercheap, Autobarn and Midas are seeing strong sales growth, and some are seeing margins of around 12 percent. Supercheap auto has 360 stores across Australia and New Zealand, and in its last financial year saw three percent growth and a revenue of $955.9 million.

New Zealanders, although slow into the housing market, are still spending large on cars. In 2017, 9420 Ford Rangers were purchased, valued at $50,000 each. As our purchasing power grows, so do certain markets, and unsurprisingly as vehicle purchasing grows so does fuel.

The Retail Trade Survey showed that in 2017 fuel spending was up 5.5 percent when compared to the year before.

Our motor industry is continuing to grow, even as first home buyers shrink. Yet a lot of what goes into car buying in our economy is second hand, this includes full cars and second-hand part importers.

Trade Me market place is a large draw place for second hand car owners, with the sites motors classified section continuing to increase. The sites 2014-2015 financial year saw revenue lift by 24 percent. In February, Trade Me presented its first-half net results, and reported a 16 percent lift of motor vehicle revenue compared to the year before.

Yet despite success of ride sharing apps such as Uber, car purchasing and retail is still expected to increase.

According to Transport New Zealand’s Trends and Projections 2014 Survey, the trend over the last 20 years has been for households to own a greater number of cars. Most likely as younger generations buy cars yet still reside or register them under a guardian’s address.

The survey shows the purchasing of vehicles has been steady since 1999 and the expectations are that those numbers will continue to grow slowly into 2020.

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Hunting & Fishing New Zealand voluntarily pulls military-style assault weapons from sale

  • News
  • March 20, 2019
  • Sarah Dunn
Hunting & Fishing New Zealand voluntarily pulls military-style assault weapons from sale

In the wake of the attack on Christchurch’s Muslim community on March 15, strong calls for changes to New Zealand’s gun last have been made. Trade Me was the first retailer to act, halting the sale of all semi-automatic weapons on its platform, and it has now been joined by Hunting & Fishing New Zealand.

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Superette to open new concept store showcasing international brands

  • News
  • March 20, 2019
  • The Register team
Superette to open new concept store showcasing international brands

Apparel boutique Superette has announced it will open an ‘international flagship’ in Newmarket on April 4. The store will feature handpicked products from both established and emerging international designers.

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What businesses can do to help support Christchurch and the Muslim community this week

  • Opinion
  • March 19, 2019
  • Rosie Collins
What businesses can do to help support Christchurch and the Muslim community this week

As many New Zealanders go back to work for the first time today since Friday’s attacks, feelings of anger, sadness, numbness, apprehension, and confusion will be shared around the country. Rosie Collins is the managing director of Step Changers, a registered charity working to normalise corporate social responsibility in New Zealand. In the wake of the Christchurch terror attack, she shares three ways businesses can help both their staff and the wider Muslim and Christchurch community this week.

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China and New Zealand’s year of tourism

  • Opinion
  • March 19, 2019
  • Juanita Neville-Te Rito
China and New Zealand’s year of tourism

Think about how to best welcome Chinese tourists into your store this year.

Read more
 
 

Coca-Cola reveals how much plastic it uses

  • News
  • March 19, 2019
  • Radio New Zealand
Coca-Cola reveals how much plastic it uses

For the first time, Coca-Cola has revealed it used three million tonnes of plastic packaging in one year.

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Profits for The Warehouse on the rise after restructure

  • News
  • March 19, 2019
  • Radio New Zealand
Profits for The Warehouse on the rise after restructure

The Warehouse has made a solid first half profit as it continues to restructure and invest in digital services.

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