Online sales hit vehicle auctions
People's desire for brand new cars and the rise of online sales are likely to be the death knell for part of one Invercargill business.
Todds Vehicle Auctions co-owner Lisa Withington said it was "fairly likely" that from next month or October no more car auctions would be run on its Bowmont St site.
Instead, they would finish the lease and run auctions off-site as need be.
"The whole industry is changing," she said.
"People don't want to buy secondhand any more."
She said it was a lot harder than it used to be to auction cars, particularly because of the increase in online sale sites, such as Trade Me.
Todds Vehicle Auctions, which operates as part of William Todd & Co, has been in operation for more than 25 years.
"At the end of the day it is what it is. You can't change progress or technology. We have to go with the times."
Last month, William Todd & Co announced it would stop its regular Friday auctions on its site between Don St through to Spey St.
Withington said it appeared that younger generations preferred to pay for something on layby or with finance to get a brand new item than buy it secondhand.
The company, which was started by William Todd in 1865, had been running an auction every Friday and on any other day when there was a need for one for several decades.
Withington stressed that William Todd & Co was still operating, but it would now focus on offsite auctions.
"It is sad, but it is what it is," she said.
- The Southland Times