The good news for the automotive trade from that is that as after the GFC in 2008 less new cars equates to more repairs of older cars, the repair trade performed strongly after the GFC so keep your capacity in place.

The majority of New Zealanders support the Government's handling of the COVID-19 situation, yet lack confidence in their personal financial stability through the crisis - according to new research.

The two-stage study, commissioned by NZ research firm Penrose Data, compared consumer attitudes before and after the first week of Level 4 lockdown.

The research found consumers' optimism that the COVID-19 crisis would improve increased significantly from 14% to 32% after the lockdown began.

However, less than half (45%) of Kiwis are confident in their financial stability, a figure which has remained constant prior to and during the lockdown. 

As a result, more than 90% of consumers will put off making at least one major purchase due to COVID-19. This figure is highest for recreation/sports products or computers (34%), vehicles or property (33%), appliances (32%) and furniture (29%). Only a tenth (9%) of Kiwis say it won’t impact their major purchases.

Despite the financial impact, consumer confidence in the Government’s response to COVID-19 has increased significantly following the first week of the lockdown with seven in 10 (70%) believing the response has been effective so far.