Road transport statistics shows the New Zealand economy “is doing pretty well” despite concerns, financial commentator Bernard Hickey says.
Hickey spoke at the Road Transport Forum’s annual conference on Saturday and says “the actual figures on the ground” are positive for business.
This is despite some industry concerns around the new government and what changes may take place. Business confidence is down for the first time since 2015.
However, heavy and light traffic data on the roads is strong and is a good reflection the economy is ticking along nicely, he says.
Statistics show there are 24,000 new car registrations each month nationally and this includes 270 extra cars per day on Auckland roads, he says.
There are also 72 cranes in Auckland which reflects strong building and construction.
Data also shows Kiwis are buying big vehicles. The Ford Ranger and Toyota Hilux are the top selling cars this year.
All of this points towards strong growth, Hickey says.
“New Zealanders are confident, spending money on big vehicles and the construction industry is going gangbusters.”
There are a number of issues to keep watch on with the new Labour-led Government, he says.
This includes the role of agriculture in the New Zealand Emissions Trading Scheme, encouraging rail over roads, re-electrification of the main trunk line, a ban on new petrol and diesel cars by 2040 and carbon neutral targets by 2050.
