2 Cheap Cars grabs share in shrinking market

Used car registrations rose at a slower pace. (Image: Depositphotos)

Tue, 31 Jan 2023

NZ Automotive Investments said its 2 Cheap Cars business increased its share of the shrinking used car market in the December quarter. The unit’s used car sales rose 6% to 6,296 in the three months ended Dec 31 from the same period a year earlier, outpacing the 0.4% increase in used car registrations. That took its market share to 7%, up from 6.5% at the end of the September quarter. The used car business said it maintained its margin through the quarter by cutting costs by relocating staff and subleasing office space it no long...

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