Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Trade Me Targets Wholesale Car Auctions

Tuesday 11 October 2005

For Immediate Release

Trade Me Targets Wholesale Car Auctions

Trade Me Motors celebrated its second birthday today by passing 32,000 car listings and announced its intention to take on traditional auctioneers in the lucrative wholesale car market.

Trade Me Motors is New Zealand’s largest automotive marketplace, selling an estimated 300 cars every day and having more vehicles listed than any other website, newspaper or magazine in the country. It has more visitors than all other automotive websites combined1.

“We’ve been delighted by the success of Trade Me Motors,” said Trade Me general manager Sam Morgan.

“Over the last two years we’ve seen both the number of vehicles and the average price grow strongly. Two years ago we had 5000 cars with an average price of around $5000. Today we’ve got 32,000 cars with an average price of $11,000.”

The site has also seen strong uptake by car dealers, with over 500 registered car dealers now listing their vehicles on Trade Me Motors, provided through a joint venture with Autobase.

“We sold nearly 80,000 cars through Trade Me Motors last year. Now it’s time to look at making the wholesale market (where manufacturers and importers sell to dealers) more efficient and to target dealer-only auctions”.

“Currently dealers pay around $350 per car to auction them in a traditional auction house. We think we can offer an equally good service for $99 a car. For a dealer network or importer putting 1000 cars through a year this amounts to over $250,000 savings, not counting savings in travel and storage. We figure this will get their attention.”

“This model is already proven and working well overseas and is simply waiting to be adapted to the New Zealand market.”

Trade Me is also looking at ways to extend its successful finance joint venture with UDC. All Trade Me cars feature direct links to UDC Finance, State Insurance, AA Inspection Services and VIR.

The latest Nielsen//NetRatings figures show Trade Me had over 2 million unique NZ visitors in September. It has over 1.2 million New Zealand members and more than 500,000 listings.

1. Source: Nielsen//NetRating Unique Visitors Sept 2005 - Automotive Category

© Scoop Media

Business Headlines | Sci-Tech Headlines


Paymark: Lockdown Equals Slowdown For Some

The three days of lockdown for Auckland earlier this month made a clear impression on our retail spending figures. While only Auckland moved into Level 3 lockdown, the impact was felt across the country, albeit at different levels. Looking at the ... More>>

Infrastructure Commission: Te Waihanga Releases Report On Water Infrastructure

The New Zealand Infrastructure Commission, Te Waihanga’s latest discussion document highlights the importance of current reforms in the water sector. Its State of Play discussion document about water infrastructure is one of a series looking at the ... More>>

Sci-Tech: Perseverance Rover Lands On Mars – Expert Reaction

NASA has landed a car-sized rover on the red planet to search for signs of past life. The vehicle has more instruments than the four rovers preceding it, and it’s also carrying gear that could help pave the way for human exploration of Mars. The ... More>>


ASB: Quarterly Economic Forecast Predicts OCR Hike As Early As August 2022

Predictions of interest rate rises have been brought forward 12 months in ASB’s latest Quarterly Economic Forecast. Chief Economist Nick Tuffley now expects the RBNZ to begin raising the OCR from its current level of 0.25% as early as August ... More>>

ACT: Matariki Almost A Half Billion Dollar Tax On Business

“Official advice to the Government says an extra public holiday at Matariki could cost almost $450 million,” ACT Leader David Seymour can reveal. “This is a perfect example of the Prime Minister doing what’s popular versus what’s responsible. ... More>>

Genesis: Assessing 6,000 GWh Of Renewable Generation Options For Development By 2025

Genesis is assessing 6,000 GWh of renewable generation options for development after starting a closed RFP process with 11 partners. Those invited to participate offer a range of technologies as Genesis continues to execute its Future-gen strategy to ... More>>

OECD: Unemployment Rate Stable At 6.9% In December 2020, 1.7 Percentage Points Higher Than In February 2020

The OECD area unemployment rate was stable at 6.9% in December 2020, remaining 1.7 percentage points above the level observed in February 2020, before the COVID-19 pandemic hit the labour market. [1] In December, the unemployment rate was also stable ... More>>

Stats NZ: Unemployment Drops To 4.9 Percent As Employment Picks Up

The seasonally adjusted unemployment rate dropped to 4.9 percent in the December 2020 quarter, from 5.3 percent in the September 2020 quarter, Stats NZ said today. Last quarter’s unemployment rate of 5.3 percent followed the largest increase observed ... More>>