The Colonial Motor Company Ltd says both its revenue and trading profit are up in the September quarter compared to last year.Both were also ahead of budget, chairman John Wylie told shareholders at the annual meeting today.The owner of motor vehicle deal
The Colonial Motor Company Ltd says both its revenue and trading profit are up in the September quarter compared to last year.
Both were also ahead of budget, chairman John Wylie told shareholders at the annual meeting today.
The owner of motor vehicle dealerships throughout the country reported a 12 percent fall in annual profit last year as the new vehicle industry started recovering from 20 year lows and the secondhand market continued on a roller coaster ride.
"Both Ford and Mazda continue to emerge as leaders in the world motor vehicle industry. Both companies continue to introduce wide-ranging changes to existing models as well as new models which subject to supply will enhance our opportunities," Mr Wylie said.
He said the new car industry was sluggish, though September was a strong month for car sales. About 70 percent of industry sales are company cars and there may have been some purchasing ahead of the rise in GST on October 1.
"The heavy truck and tractor business appears, at long last, to have turned the corner with limited but renewed activity and a long slow recovery is at the outlook for this sector," Mr Wylie said.
