Vehicle importer: Used car prices could rise 20 per cent
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A vehicle importer says a supply shortage caused by ships being unable to dock in New Zealand could cause used car vehicle prices to increase by as much as 20 percent.
Director of Genuine Vehicle Imports PJ Johnston says clearing the backlog caused by the presence of stink bugs in car-carrying ships is imperative if prices are to remain steady.
These comments come after the Ministry of Primary Industries announced new measures yesterday that all vehicles will be cleaned and inspected before leaving Japan for our shores.
Currently, three car-carrying ships remain outside New Zealand waters, awaiting treatment to kill any pests on board.
Johnston, says staff in the used-car business and transport companies are out of work, as car yards start to run out of vehicles.
Businesses linked to the car import industry are standing down employees as biosecurity concerns prevent thousands of cars from entering the country.