Car sales slump to lowest level since 2001

Car sales have hit their lowest point since 2001.

According to figures from Statistics New Zealand released today, car sales are down 19.5 per cent since September 2007.

Fuel sales are also down 2.2 per cent or $14 million.

The significant drops have influenced overall retail sales which dropped 1.3 per cent, or $69 million in October.

However "core retailing", which excludes car sales, fuel sales and the vehicle related industry, rose by 0.8 per cent.

Appliance retail was up 7.6 per cent or $15 million, accommodation was up 5.3 per cent, or $12m, and clothing and soft goods - which covers manchester, linen and textiles - were up 5.5 per cent, or $11m.

But offsetting "core retail" was supermarket sales which were down by 1.2 per cent, or $14m.

Statistician Geoff Bascand said monthly retail sales have had a slight downward trend throughout 2008 with October being 0.9 per cent down when compared to the start of the year.