New Zealand Used Car Market Size

Statistics for the 2023 & 2024 New Zealand Used Car market size, created by Mordor Intelligence™ Industry Reports. New Zealand Used Car size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of New Zealand Used Car Industry

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New Zealand Used Car Market Summary
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

New Zealand Used Car Market Major Players

*Disclaimer: Major Players sorted in no particular order

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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 Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)