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Timaru District Quarterly economic monitor - September 2020

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Car registrations

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Highlights for Timaru District

  • The number of cars registered in Timaru District increased by 62.7% in the year to September 2020 compared with the previous 12 months. Growth was higher than in New Zealand, where car sales decreased by -22.9%.
  • A total of 2,921 cars were registered in Timaru District in the year to September 2020. This compares with the ten year average of 1,762.

National overview

Car registrations recovered ground after lockdown, as pent up demand and a shift in spending patterns seeing a focus on vehicle sales. However, registrations in the September quarter were still 19% below registration levels last year. The momentum in car registrations is unlikely to continue, as job losses in the economy mount, the lack of international tourism reduces registrations of new rental cars, and potential constraints on the international supply of both new and used cars start to bite.