Trade Me to take on car auctioneers

Online auction website Trade Me is set to expand its presence in the car market and take on traditional auctioneers.

Its vehicle section, Trade Me Motors, already sells about 300 cars a day.

But the company wants to target dealer-only auctions and improve the efficiency of the wholesale car market, which is where manufacturers and importers sell to dealers.

Trade Me general manager Sam Morgan said he planned to undercut auction houses.

"Dealers pay about $350 a 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 savings of more than $250,000.

More than 500 registered car dealers list on Trade Me Motors.

- NZPA