14 cars valued between £500,000 and £750,000 have been seized by the PSNI's Organised Crime Branch - many of them were high-end vehicles.
A man was also arrested in the probe which is part of the National Crime Agency-led operation, Operation Venetic.
The 33 year old was arrested on various drugs charges, along with entering into an arrangement to acquire criminal property - he remains in police custody
The arrest and seizure of the high-end cars were made following a search of three properties in Newry.
Speaking about the operation, Detective Inspector Craig McCamley said: “This is an example of our ongoing commitment to bring those involved in criminal activity to justice. Working alongside our partner agencies, we will continue to disrupt the movements and activities of Organised Crime Gangs.
"We recognise the harm caused in our communities as a result of organised crime and we will continue to keep people safe from this activity."