Who are the key players in New Zealand Used Car Market?

AJ Motors, AutoTrader, Turners Automotive Group, Dayman's Motor Group and WHEELER MOTOR COMPANY LIMITED are the major companies operating in the New Zealand Used Car Market. Read More

What years does this New Zealand Used Car Market cover, and what was the market size in 2023?

In 2023, the New Zealand Used Car Market size was estimated at USD 271.72 million. The report covers the New Zealand Used Car Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the New Zealand Used Car Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

New Zealand Used Car Market Size

Market Size of New Zealand Used Car Industry

Study Period	2019 - 2029
Base Year For Estimation	2023
Market Size (2024)	USD 289.06 Million
Market Size (2029)	USD 386.83 Million
CAGR (2024 - 2029)	6.00 %
Market Concentration	Medium
Major Players *Disclaimer: Major Players sorted in no particular order

New Zealand Used Car Market Analysis

The New Zealand Used Car Market size is estimated at USD 289.06 million in 2024, and is expected to reach USD 386.83 million by 2029, growing at a CAGR of 6% during the forecast period (2024-2029).

Over the medium term, the pandemic made owning a car an unavoidable aspect of an individual's life, as traveling via public transport can be risky. People who preferred public transport during the pre-Covid times are now potential customers of the used cars market.

The majority of consumers prefer used cars with an average age and more kilometers driven since used cars in that segment offer an attractive and inexpensive option, with SUVs being the most popular type of automobile. Car dealers are highlighting the importance of having integrated, user-friendly platforms to facilitate the used car buyer's experience. These changes and advancements are positively affecting the used automobile sector, with promising future growth.

Due to the increasing digitization and the ability of companies to provide immersive purchase experiences remotely, the Used Car Market is expected to witness significant growth across the country. Furthermore, the rise in the value-added service offering and the variety of finance providers offering credit for used cars will also contribute to the growth of the used car market in the country. However, the higher interest rates might turn around some potential customers, hampering the market's growth.

New Zealand Used Car Industry Segmentation

A used car is a pre-owned vehicle that has previously had one or more retail owners. These cars are sold through a variety of outlets through independent dealers, online sales channels, and others.

New Zealand's used car market is segmented by vehicle type, vendor type, and fuel type. Based on the vehicle type, the market is segmented into hatchbacks, sedans, sports utility vehicles, and multi-purpose vehicles. Based on the vendor type, the market is segmented into organized and unorganized. Based on the fuel type, the market is segmented into gasoline, diesel, electric, and other fuel types.

For each segment, the market sizing and forecast have been done based on the value (USD).

Vehicle Type
		Hatchback
		Sedan
		Sport Utility Vehicles (SUVs)
		Multi-Purpose Vehicles (MUVs)

Vendor Type
		Organized
		Unorganized

Fuel Type
		Gasoline
		Diesel
		Electric
		Alternative Fuel Vehicles

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New Zealand Used Car Market Size Summary

The New Zealand Used Car Market is poised for substantial growth over the forecast period, driven by shifts in consumer behavior and advancements in digital platforms. The pandemic has shifted preferences from public transport to personal vehicles, increasing the demand for used cars. Consumers are increasingly favoring used cars, particularly SUVs, due to their affordability and the value they offer. The market is benefiting from enhanced digitalization, with companies providing immersive online purchasing experiences and a variety of financing options, which are expected to further stimulate growth. However, higher interest rates could pose challenges by deterring some potential buyers.

Hatchbacks, particularly preowned models, are gaining popularity due to their cost-effectiveness and tax advantages compared to sedans. The demand for used hatchbacks is expected to rise, supported by the availability of well-maintained vehicles aged five to ten years. Factors such as the high cost of new vehicles, the appeal of off-lease cars, and subscription services are driving the expansion of the used car market. The increasing use of online channels for buying and selling cars, facilitated by rapid urbanization and improved internet connectivity, is enhancing the sales process. Key players in the market, including AJ Motors and Turners Automotive Group, are leveraging strategic partnerships and technological advancements to strengthen their market presence.

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New Zealand Used Car Market Size - Table of Contents

1. MARKET DYNAMICS
1. 1.1 Market Drivers
  1. 1.1.1 Online Sales Channel Witnessed Significant Market Growth
2. 1.2 Market Restraints
  1. 1.2.1 Trust And Transparency In Used Car Remained A Key Challenge For Consumers
3. 1.3 Porter's Five Forces Analysis
  1. 1.3.1 Threat of New Entrants
  2. 1.3.2 Bargaining Power of Buyers/Consumers
  3. 1.3.3 Bargaining Power of Suppliers
  4. 1.3.4 Threat of Substitute Products
  5. 1.3.5 Intensity of Competitive Rivalry
2. MARKET SEGMENTATION (Market Size in Value - USD)
1. 2.1 Vehicle Type
  1. 2.1.1 Hatchback
  2. 2.1.2 Sedan
  3. 2.1.3 Sport Utility Vehicles (SUVs)
  4. 2.1.4 Multi-Purpose Vehicles (MUVs)
2. 2.2 Vendor Type
  1. 2.2.1 Organized
  2. 2.2.2 Unorganized
3. 2.3 Fuel Type
  1. 2.3.1 Gasoline
  2. 2.3.2 Diesel
  3. 2.3.3 Electric
  4. 2.3.4 Alternative Fuel Vehicles