More Than 1.1 Million Used Cars Change Possession in NZ Every Year

Woman picking up a used car from lotVehicle drivers in New Zealand are more frugal than you may think, as evidenced the robust amount of used car sales every year.

According to the New Zealand Transport Agency (NZTA), people buy, register and sell more than 1.1 million vehicles on an annual basis. Sales in the second-hand market, probably including those that offer cash for cars in West Auckland, already exceeded 857,000 units between January and September.

Used Market

The first nine months of 2017 may indicate a healthy second-hand vehicle market and may continue in the near future. If you plan to sell your old car, you may find it easy to close a deal with a buyer. In September alone, more than 94,700 units changed possession nationwide, according to NZTA data.

The high demand for used cars may be further evident with an expectation that sales in 2017 will reach 1.2 million, up from more than 1.12 million in 2016. The market for new car sales also registered an increase for the first 10 months this year, the Motor Industry Association (MIA).

Brand New Cars

MIA said that sales in October posted a new record high for the month, as sales increased 5.6% to 15,530 new cars from more than 14,000 year over year. This will help the new car market to surpass 150,000 unit sales for 2017 for the first time, according to MIA CEO David Crawford.

The association said that sales already rose 9.8% higher than the record total of 133,960 units for the first 10 months of 2016. This led the MIA to expect that new cars sold in 2017 will surpass last year’s figure at 146,939 units.

READ  Why It's the Best Time to Start an Auto Repair Shop

Whether you are a dealer of new or used cars, the industry’s performance in recent months means more potential business and revenue. For buyers, it might be easy to negotiate prices since sellers will compete to close the most number of deals.