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Timaru District Quarterly economic monitor - September 2020

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Commercial vehicle registrations

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Highlights for Timaru District

  • The number of commercial vehicles registered in Timaru District decreased by -18.2% in the year to September 2020 compared with the previous 12 months. Growth was higher than in New Zealand, where commercial vehicle sales decreased by -26.1%.
  • A total of 512 commercial vehicles were registered in Timaru District in the year to September 2020. This is higher than the ten year annual average of 490.

National overview

Commercial vehicle registrations have recovered some ground from their sharp fall experienced during lockdown earlier this year. This recovery points to continued resilience in the primary sector, where demand for New Zealand’s food products remains high, and in construction, where sharp growth in house prices is stimulating residential construction activity. Despite this recovery, commercial registrations remain considerably weaker than pre-pandemic, with commercial vehicle registrations in the September quarter still sitting 13% lower than a year ago.