7 Dec 2015

Peak in car sales reached - economist

9:31 pm on 7 December 2015

Car sales appear to have hit the peak-point.

Consultancy firm Infometrics said total sales fell a seasonally adjusted 3.9 percent in November, when compared with the month before.

On an yearly basis, sales rose 1.3 percent, the smallest annual growth since September 2012.

Economist Mieke Welvaert said a lower New Zealand dollar was pushing up prices, while weaker consumer and business confidence was starting to bite.

"As a result of these factors, we see car sales cooling back," she said.

Ms Welvaert said prices were likely to rise further, as the New Zealand dollar weakens against the Japanese yen.