Sales of vehicles through Trade Me are growing and it continues to be the market leader in New Zealand, according to the online trader’s annual report.
Revenue from Trade Me Motors for the 2016 financial year increased 11.2 per cent on the previous year. Strengthened sales by dealers help push this increase, with dealer revenue growing 26 per cent, the report says.
Trade Me made $58.8 million in revenue from motor sales in the 2016 financial year.
A reviews and news section, launched in July this year, is considered a “key building block” in ensuring Trade Me is relevant to car buyers for more of their research when buying, the report says.
Overall, the online trader continues to go from strength-to-strength, with revenue up 9.2 per cent on the previous year to $218 million, and net operating profit up 3.5 per cent to $83 million.
Key highlights of Trade Me’s financial year include:
- A strong mobile focus, with mobile browsing comprising more than 60 per cent of total sessions.
- The launch of Trade Me insurance in August 2015.
- The launch of ‘Motors of the Year’ in January – the most popular vehicle listings of 2015, including a tank.
- The launch of ‘Help Me Choose’ in February, designed to help motorists pick the right vehicle.
- The banning and restriction of statutorily written off vehicles from Australia in May.