Marlborough Region Quarterly economic monitor - June 2020

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Car registrations

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Highlights for Marlborough Region

  • The number of cars registered in Marlborough Region decreased by -18.0% in the year to June 2020 compared with the previous 12 months. Growth was higher than in New Zealand, where car sales decreased by -19.3%.
  • A total of 1,272 cars were registered in Marlborough Region in the year to June 2020. This compares with the ten year average of 1,284.

National overview

The decline in car registrations has accelerated, falling 43%pa in the June 2020 quarter, which contributed to a 19% fall in the June 2019 year. Car registrations have been on a downward path since the middle of last year, but constraints on trading during lockdown were a major contributor to the June quarter’s result, with registration numbers toppling across the board in both new and used, large and small cars. There are signs that money saved by households during lockdown is being spent on new cars, but this spending may only be temporary. As job losses begin to accumulate, consumers’ and businesses’ willingness to make major purchases could well dry up. The additional impact of New Zealand’s closed borders on demand for rental cars from the tourism industry and the outlook for the car market is far from rosy.