Used car registrations in New Zealand – generally for imported used cars – have plunged 30 per cent in June to 7,049 from a year ago. Used car sales were down 5.5% on the 8.156 sold in May.
Sales of cars in New Zealand have been reeling as a result of soaring gasoline prices, restricted credit available and a generally weak economy. Used car sales have been heavily affected by a crisis in the car finance business that has seen 23 companies defaulting in just over two years.
Finance companies in New Zealand are a traditional source of credit for used car dealers.
In contrast to the dire state of the used car market, new car registrations rose 5.5% on June last year & were up 20% on May to 6.753. But the figures show a marked move toward smaller cars, away from larger gas guzzlers.
If you are looking for exporters of used cars, please click here: Used Cars Exporters