The Imported Motor Vehicle Industry Association (VIA) is encouraging vehicle buyers to take advantage of a glut of imports in the market, before prices rise.
Factors including the delay of several large shipments during the stink bug biosecurity scare in the first half of 2018, led to a subsequent rush of incoming stock, VIA chief executive David Vinsen says.
However, the industry is anticipating an increase in importing costs in the near future because of weakening New Zealand dollar, increased costs for biosecurity measures, increases in freight and fuel bunker charges and used vehicle supplies in Japan tightening.
“Trading platforms, including Trade Me and Turners, have confirmed that listings for imports are at a recent high,” VIA chief executive David Vinsen says.
“The timing of this is especially ironic, given that we’ll be looking at probable increases of around 15% for imports over the next six to 12 months.”
Vinsen expects the market for imports to remain strong, with improving business confidence and a more conservative position being shown by some banks.
