The men, aged 21 and 39, were arrested as police conducted simultaneous warrants on Thursday.
Acting Detective Senior Sergeant Sarah Graham said they were charged with receiving stolen vehicles and breaching the Secondhand Dealers and Pawnbrokers Act 2004.
Police were also taking restraint action under the Criminal Proceeds (Recovery) Act 2009. They would not disclose what assets were, nor their value.
Police believed the two auto-dismantlers were fuelling vehicle thefts in their areas.
"In Canterbury, an investigation into a rise in car crime began in March and came to centre on two auto-dismantlers yards: one in Christchurch and the other in Upper Hutt."
A six-month police operation found they were buying multiple stolen cars for much less than the cars were worth.
"After half a year of work by Police Tactical Crime Units, Asset Recovery Units, and Customs New Zealand, we had sufficient evidence to execute (Thursday's) simultaneous warrants.
Detective Inspector Haley Ryan said Wellington police had been running Operate Drake for more than a year to combat rising vehicle thefts in the region.
She said they believed most of the vehicles not recovered were being dismantled and exported overseas.
"Stolen commercial vehicles have much more value to the receiver being dismantled and sold for parts versus them being rebirthed and sold."
It would be naive to think other wrecking businesses weren't involved in similar activities, Ryan said.
Graham said police wouldn't rule out further arrests.
"This is the second auto-dismantler to be prosecuted in Christchurch in the last year in relation to similar offending."
