Govt car scheme – catalyst to stock shortages, higher prices

Turners expected stock to be down by at least a fifth. (Image: Turners)

Tue, 21 Feb 2023

A shortage of used car imports is headed our way on the back of the government's clean car scheme, resulting in escalating prices in the midst of runaway inflation. Industry players expect the number of imported vehicles to drop by as much as 30% this year, even as new car sales ebb.Todd Hunter, chief executive of Turners Automotive Group, the largest car retailer in NZ, said used car prices had been tracking up over the past few months, which reflected a pool of available cars that were "shrinking faster than demand". H...

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