Increase in sales of new vehicles

07:02 Today (June 7, 2013)
Report by: Akosita Talei

If you’re seeing lots of new cars on the road, that’s because more cars are being sold in Fiji than ever before.

Motor vehicles sales have always been a healthy indicator of the economy and the Finance Ministry is pleased with how the industry is doing.

Permanent Secretary Filimoni Waqabaca says more new cars on the road means people’s disposable income is growing.

The sales grew from last year over 40% and this year has gone to 50% annual growth. This is an indicator for consumption which means Fijians have enough money to spend.

Waqabaca adds new car sales are just a portion of what Fijians spend on…import figures indicate demand for white goods, luxury items and high tech gadgets is growing

However, second hand vehicle sales are also increasing – often preferred by middle income families that can’t afford brand new cars.