Industry News: China fines Japanese parts industry

auto-partsChina has fined 10 Japanese automotive parts firms a total of $A217 million for price-fixing in what Chinese media have called “the biggest-ever penalty for violating the anti-monopoly law”.

The companies were found to have implemented monopoly pricing agreements for more than 10 years, says the National Development and Reform Commission (NDRC) regulator in a statement.

The NDRC, one of several Chinese government bodies that investigates monopoly actions, says in early August it was probing car firms including Audi, Chrysler as well as the 12 Japanese companies for possible violations. Continue reading “China fines Japanese parts industry” »

Industry News: Fraudsters Ghost on the block

10411427A 1922 Rolls-Royce Silver Ghost linked to convicted fraudster Micheal Swann will be auctioned in Auckland.

Turners North Shore will put the Rolls Royce under the hammer with an auction estimate of $60,000-$80,000 with the proceeds to be returned to the Government, reports the Otago Daily Times.

The vehicle was located inside a container at Port Otago last year. Continue reading “Fraudsters Ghost on the block” »

Industry News: Record profit for Colonial

Expanding car, truck and tractor dealer dealer Colonial Motor Company has reported a record profit for the last year to the end of June.

The listed-firms trading profit after tax of $18.221 million is up 31% on last year, which in turn was up 17% on the previous year.

In its report to the stock market, the company says it continues to have the right products. Continue reading “Record profit for Colonial” »

Industry News: Positive consumers still good for dealers

ANZ-ConsumerConfidence-20140821-copy-1Kiwi consumers remain positive – though less upbeat than they were – a sign that vehicle dealers and distributors can expect buoyant but easing markets for the rest of the year.

The ANZ-Roy Morgan Consumer Confidence Index eased to 125.5 in August, down 7 points on the month prior and reversing lifts in sentiment over the preceding two months.

Sentiment is still elevated but has retreated to a 10-month low. Continue reading “Positive consumers still good for dealers” »

Industry News: Car buying Millennials bypass social media

social_mediaDespite all of the hype surrounding social media acceptance in the car industry, it seems it is all unfounded when it comes to young people buying a car, according to a recent Autotrader.com survey.

Just 1% of car buyers use social sites to shop for a vehicle, according to an AutoTrader.com survey.

“Generation Y – those born between 1981 and 1994 and millenials born 1995-2009 – who are the most attracted to social media, barely use sites such as Facebook and Twitter for car shopping,” says Isabelle Helms, vice president of research and market intelligence for AutoTrader.com. Continue reading “Car buying Millennials bypass social media” »

Industry News: Improved result for biggest vehicle entry point

portpicThe country’s biggest handler of arriving vehicles has reported improved profits off the back of improved productivity and volume.

Ports of Auckland today reported a trading profit before income tax of $73.5 million for the year to the end of June, up 65.5% on last year’s result of $44.1 million.

Net profit after tax of $74 million is 90% up on last year’s result of $38.9 million. Continue reading “Improved result for biggest vehicle entry point” »

Industry News: Volvo Polestar cars support dealer cancer charity

VOLVO-S60--V8-SUPERCAR

Sydney Motorsport Park will this weekend see the return of the Volvo S60 V8 Supercar for the Sydney 400 at Eastern Creek.

The Volvo Polestar Racing cars driven by Robert Dahlgren and Scott McLaughlin will feature a Cure Brain Cancer logo on their bonnets this weekend as a part of Volvo Car Australia’s partnership with the brain cancer research foundation, founded by Dr Charlie Teo.

The partnership has so far generated over $1 million via Volvo Car Australia’s Dealer Network, an occasion which was celebrated recently in Sydney. Continue reading “Volvo Polestar cars support dealer cancer charity” »

Industry News: New Legacy and Outback are top US safety picks

Outback-2015

Subaru’s new generation Legacy and Outback have received the highest safety ranking in testing conducted by the Insurance Institute for Highway Safety (IIHS) in North America.

Both cars have been awarded “Top safety pick+” status – along with the “superior” rating for front crash prevention for versions equipped with Subaru’s EyeSight driver assist system. EyeSight variants earned the maximum six out of six points for front crash prevention.

The results mean Subaru now has seven models that have earned 2014 safety awards from IIHS – four with ‘Top Safety Pick’ and three with ‘Top Safety Pick+’. Continue reading “New Legacy and Outback are top US safety picks” »

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