2 Cheap Cars Group Limited Analysis

Overview

2 Cheap Cars Group* is an integrated used automotive group operating throughout New Zealand. We are vertically integrated from procurement in Japan through to our retail branches nationwide. Operating under the “2 Cheap Cars” brand, our Automotive Retail company is one of the largest used vehicle sellers in New Zealand with 12 dealerships across the country.

Our mission is to deliver on our promise… 2 Cheap Cars, driving better deals, every day.

*2 Cheap Cars Group was previously known as NZ Automotive Investments (NZAI).

Performance

The following information was extracted from 2 Cheap Cars Group Limited market update, released on 19 June 2026:

As outlined in the Company’s FY26 results announcement (29 May 2026), trading momentum improved materially through the second half of FY26. This was driven by stronger vehicle margins, improved procurement conditions, disciplined cost control and robust finance and insurance penetration rates.

This momentum has continued into the early part of FY27.

The Company recorded net profit after tax (NPAT) of approximately $0.6 million in March 2026, the final month of FY26. Unaudited management accounts for April and May 2026 also each show NPAT of approximately $0.6 million. Trading through the first half of June has remained positive.

The Board considers this recent performance encouraging, particularly when compared with FY26 NPAT of $3.2 million for the full year to 31 March 2026. However, the Board notes that the current trading reflects a short period and may not be representative of the balance of FY27.

The Company is not providing FY27 earnings guidance at this time.

Chairman Michael Stiassny said the recent trading performance reflected the Group’s focus on disciplined inventory management, procurement quality, finance and insurance execution, and operating cost control.