A LOT of farmers have updated vehicles in the last year with record prices in the beef and dairy sector and consumers have been busy updating on the back of the high Kiwi dollar, strong employment and record low interest rates.
Going forward unfortunately the outlook isn't so bright, for example how many dairy farmers will be updating vehicles considering where Fonterra's forecast pay-out is going ?
Now consumers are paying higher mortgage rates will they be so keen to update their vehicles ?