The used car market in New Zealand in 2024 has shown significant trends that mirror broader economic and consumer behavior shifts. By 2025, the market is projected to reach USD 306.40 million and grow at a CAGR of 6% to around USD 410.04 million by 2030, highlighting robust growth potential in the coming years.
In consumer insights, there has been a shift in priorities among buyers, with an increasing preference for value and reliability over luxury options. The data indicates a rise in the purchase of used vehicles as consumers seek more cost-effective options amid economic constraints and a decrease in new vehicle registrations, which fell by 14.1% in January 2025 compared to January 2024.
Additionally, the used car sales saw a notable increase, particularly in the dealer market, where sales rose by 4.9% year-on-year, illustrating a competitive landscape where dealers are adapting to consumer preferences.
One of the significant consumer trends driving the used vehicle market is the growing reliance on digital platforms for research and acquisitions. Consumers are increasingly utilizing online tools to compare prices and specifications before making a purchase, which is influencing how dealerships operate and market their inventory.
Overall, the New Zealand used car market in 2024 underscores a trend towards increased affordability and value, driven by changing consumer priorities and adaptive sales strategies among dealerships. This evolution presents opportunities for both dealers and consumers as the market continues to develop.