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Car imports drop as crude oil increases in value

Dec 3rd, 2008 | By | Category: Latest News, News

MOTORISTS are importing fewer cars and many are switching to smaller engines, but crude oil imports are on the rise, according to latest statistics.

The number of cars imported dropped by about 13% in the year to October, says Statistics New Zealand.

The value of petroleum product imports rose almost 70%, the biggest increase in imported goods for the year, with a 94% increase in crude oil price the main contributor.

The average punter is still interested in big cars, but corporate fleets are switching to smaller or diesel engines, says GT Nissan group general manager Oliver Gazley.

“People are sticking to their guns and driving what they enjoy.”

On demand for smaller cars, Mr Gazley says it is there, but mainly comes from corporate fleets.

“Petrol prices, carbon footprint and the perception in the clients’ eyes that you should be driving the right sort of car in the right circumstances.”

The importing of car parts also took a fall of about 4%, driven by the decreasing number of cars.

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