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  • Credit Card spending up in April

    Credit Card spending up in April

    Retail spending on electronic cards rose in April as Kiwis took advantage of the extended holiday period to eat out and take holidays away from home.

    Card spending in April rose 0.6 percent seasonally adjusted after a 0.2 percent decrease in March, according to data from Statistics NZ.

    The increase in credit and debit card spending in April coincided with the timing of Easter and the school holidays.

    “Many employees took three days off to get a 10-day holiday over the Easter and Anzac Day period,” said Sue Chapman, retail statistics manager.

    According to Statistics NZ, retail sales increased despite the reduced trading hours in April.

    In April, spending on eating out and staying away from home (hospitality) rose $6.3 million (0.6 percent) on March, and spending on groceries (consumables) rose $10 million (0.5 percent).

    Apparel sales rose 1.8 percent in April after falling 2.9 percent in March. Fuel was up $17 million (2.8 percent), and durables, up $17 million (1.3 percent), also drove the increase in retail spending.

    Chapman said the increase in fuel spending was due to climbing fuel prices.

    “Fuel prices increased for the fourth consecutive month, after falling late last year,” she said.

    The retail durables industry, which includes furniture, hardware, appliances, and pharmaceutical retailing, bounced back after a 1.7 percent decrease in March.

    Core retail spending, excluding fuel and vehicle spending, saw a 0.5 percent lift following a 0.3 decline in March.

    The total value of electronic card spending, including the two non-retail categories (services and non-retail), saw a 0.4 percent increase in April, following a 0.1 percent fall in March.

    In actual terms, retail spending using electronic cards was $5.3 billion, up to $232 million (4.5 percent) from April 2018.

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  • New Generation BMW Z4 Launched In India

    New Generation BMW Z4 Launched In India

    Having teased its new convertible weeks ago, BMW India has finally launched the much awaited new-generation Z4 Roadster in the country. Prices for the 2019 BMW Z4 Roadster start at ₹ 64.90 lakh for the sDrive20i variant, while the M40i is priced at ₹ 78.90 lakh (all prices, ex-showroom India). The all-new offering bring back the Z4 nameplate to India and has been developed in collaboration with Toyota. In fact, the new Z4 shares its engine with the all-new Toyota Supra that was revealed last year. The BMW convertible comes as a Completely Built Unit (CBU) and bookings are open at the automaker’s dealerships pan India.

    Speaking on the launch of the new Z4 Roadster, BMW Group India President (act.), Dr. Hans-Christian Baertels said, “BMW has a rich history of roadsters that have stood out as icons of pure driving pleasure. The all-new BMW Z4 Roadster is our brand-new addition to BMW’s long history of engrossing roadsters. With dynamic proportions, emotional design and thrilling sportiness, this open-top two-seater takes the classic roadster into the world of tomorrow. When the roof opens, there are no limits to driving pleasure in the all-new BMW Z4 Roadster.”

    The all-new BMW Z4 Roadster gets an evolutionary styling over the previous generation model, and is actually similar to the Z4 concept that was showcased a couple of years ago. The model gets the wide kidney grille up front that grabs all the attention, while the headlamps get the smoked finish and the LED treatment.  The bumper gets larger air intakes with the fog lamps neatly integrated in the design. The convertible rides on 18-inch or 19-inch alloys, while the rear gets wraparound LED taillights that look sharp with the gloss black finished bumper and twin exhaust tips. The new Z4 looks aggressive and certainly proper eye candy that will grab a lot of attention on the road. BMW says the new Z4 Roadster can be further spruced up visually with the Sport Line or M Sport Package on the sDrive20i that add a sportier appearance to the convertible.

    The new BMW Z4 Roadster is available in two engine variants. The Z4 sDrive20i uses a 2.0-litre four-cylinder petrol motor that churns out 194 bhp and 320 Nm of peak torque. The car accelerates from 0 -100 kmph in just 6.6 seconds. The more powerful and feature loaded Z4 M40i is powered by the 3.0-litre petrol motor tuned for 335 bhp and 500 Nm of peak torque. The M40i can sprint from 0-100 kmph in just 4.5 seconds. Both engines are paired with the 8-speed Steptronic Sport Transmission. Like all BMW models, the Z4 Roadster too gets 50:50 weight distribution for optimum drive with power sent only to the rear wheels.

    The cabin on the new Z4 Roadster is a familiar affair sharing the design with other BMW models. The massive 10.3-inch multimedia display takes prominence in the centre, while a 12.3-inch digital display replaces the conventional instrument console. The two-door also comes with two-zone climate control, electrically adjustable front seats, ambient lighting and more. The M40i also gets a 364 watt Harman Kardon system and a Head Up Display (HUD).

    On the safety front, the Z4 Roadster is loaded with pedestrian detection, emergency braking, rear collision warning, lane departure warning and cross traffic alert. The convertible also gets an auto parking feature and adaptive cruise control.

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  • Wuling to Build Factory in Indonesia

    Wuling to Build Factory in Indonesia

    Chinese-bases automotive company PT SAIC General Motor Wuling (SGMW) is preparing investment of US$700 million or around RP9.7 trillion to open up business in Indonesia.

    PT SGMW Motor Indonesia President Feiyun said the company is building its first factory in Indonesia. The factory is located in Greenland International Industrial Center, Cikarang, West Java, and is built on land of 600,000 square meters.

    “Besides factory, the company will also build supplier park,” said Xu Feiyun on Thursday, January 28, 2016.

    The factory is scheduled to begin the operation in 2017 and will become production basis to expand the company’s business to ASEAN countries. The first product that will be launched is multi-purposes vehicle (MPV). “We are optimistic that the people of Indonesian can accept our products,” said Feiyun.

    The factory is also planned to produce 150,000 vehicles per year so that Indonesia will become the main export basis of Wuling vehicles in Southeast Asia. Through this project, SGMW is expected to create 3,000 job fields.

    PT SGMW Motor Indonesia is a part of global expansion of SAIC, General Motors and Wuling Automobile in China. “We will utilize capital, technology and system from stakeholders, SAIC, General Motors and Wuling to give the best services,” said Xu Feiyun.

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