One of New Zealand's most popular used-car dealerships has experienced a 47-percent drop in profit

The country's continued economic downturn, a fall in immigration and consequent softer market demand has driven the fall for 2 Cheap Cars.

Its net profit has seen the biggest impact - dropping from 6.2 million-dollars in 2024 to 3.3-million this year.

Chief executive David Sena says there's no question trading's tough - adding the company's focused on optimising its retail footprint.