2 Cheap Cars Group Limited
NNZX:2CC0.91
NZD
+0.01
(+0.55%)
2 Cheap Cars Group Limited
NZX:2CC
(New Zealand Exchange)
Recent
price
0.91
P/E
ratio
8.57
div
yld
4.07%
ROIC.AI
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- 2 Cheap Cars Group Limited, formerly known as NZ Automotive Investments Limited, is a New Zealand-based integrated automotive retail and financial services company that specializes in the procurement, import, marketing, and distribution of affordable used passenger vehicles alongside related consumer financing and insurance solutions. Founded in 2011 and headquartered in Auckland, New Zealand, the company operates primarily through two core business segments: Automotive Retail and Vehicle Finance. The Automotive Retail division operates under the 2 Cheap Cars brand across a nationwide network of physical dealerships and digital sales channels, offering a comprehensive range of imported used motor vehicles including compact cars, sedans, station wagons, sport utility vehicles (SUVs), multi-purpose passenger vehicles (people movers), light commercial vehicles, hybrid electric vehicles (HEVs), and battery electric vehicles (EVs); vehicle pre-delivery compliance, inspection, and detailing services; trade-in valuation and vehicle acquisition services; and nationwide vehicle delivery options. The Vehicle Finance division, operating through subsidiary NZ Motor Finance Limited in conjunction with accredited third-party financial institutions, provides consumer credit and financial products including fixed-rate automotive loans, zero-deposit vehicle finance contracts, and tailored refinancing solutions; as well as ancillary automotive protection and warranty products comprising mechanical breakdown insurance (MBI), comprehensive motor vehicle insurance, guaranteed asset protection (GAP) insurance, and payment protection insurance (PPI). The company maintains a vertically integrated supply chain encompassing direct wholesale vehicle procurement at Japanese automobile auctions, international maritime freight logistics, domestic regulatory compliance processing, and direct-to-consumer dealership sales across major metropolitan centers in New Zealand, including Auckland, Hamilton, Tauranga, Palmerston North, Wellington, and Christchurch. In recent developments, the company executed a corporate rebranding and reorganization, changing its name from NZ Automotive Investments Limited to 2 Cheap Cars Group Limited and updating its ticker symbol on the New Zealand Exchange from NZA to 2CC to unify group operations under its primary retail brand. Concurrently, the group implemented a comprehensive strategic turnaround program under refreshed executive and board leadership, focusing on procurement efficiencies in Japan, disciplined inventory management, cost rationalization, and dealership unit margin expansion. Additionally, the company broadened its multi-lender distribution model by strengthening strategic partnerships with external non-bank financial institutions and insurers, while modernizing its digital sales platform to support online vehicle reservations and end-to-end finance applications.