December Results Confirm Another Record Year for Second Hand

TURNERS GROUP SECOND HAND VEHICLES MARKET PRESS RELEASE

DECEMBER RESULTS CONFIRM ANOTHER RECORD YEAR FOR SECOND HAND CAR MARKET

The figures are in, and 2017 was once again a record year, with 1.14 million used car transactions. This continues the trend of annual increases that we have seen since 2011.

The Ex – overseas segment was the biggest contributor to this increase, with 165,000 transactions – a 10% increase over 2016.

Looking ahead to the future, we see no signs of growth in the used car market slowing.

Not only is the light fleet travelling further than it ever has before (this has increased every quarter since 2013), but it is also older than it has been before, with the average vehicle age increasing to 14 years.

With the scrappage of 20 year old vehicles accelerating, newer used cars (both imports and ex-lease vehicles) will provide a pivotal role in the rejuvenation of our light fleet.

NZTA used Car registration and Change of ownership figures

With over 50 years of experience and 22 branches across the country, Turners is the biggest buyer and seller of used cars, trucks and machinery in New Zealand. For further information, comments or analysis around the New Zealand automotive market, please do not hesitate to contact us using the details below.

ENDS

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