Autofile, March 6, out now

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The trusted voice of the auto industry for more than 25 years www.autofile.co.nz

Issue 4-2015 6 March 2015

Marque going ‘extra mile’ in airbag recall

In this issue

distributor is working hard to identify used cars imported into this country that are subject to an airbag recall in addition to stock it has sold new. The total number of new vehicles called back by Honda NZ for potentially explosive Takata airbag components now stands at 7,254, of which about 40 per cent have been remedied. It means that – along with vehicles also recalled by Toyota, Mazda, Nissan and BMW – the nationwide total now exceeds 21,000 units.

p12 Profile on VINZ’s top man

A

Since 2008, about 25 million vehicles worldwide with Takata airbags have been recalled for their inflators to be replaced. The defective parts have been linked to at least six deaths and dozens of injuries. There have been reports of them exploding in the US with too much force and spraying metal fragments at occupants, but no such incidents have happened in New Zealand. The problems have resulted in regulatory oversight in Japan and the US coming under close scrutiny.

Bryan Davis, national service manager of Honda NZ, says the recalls in this country centre on its parent company in Japan trying to ensure all of its vehicles with potential faults are correctly identified. “Honda Motor Company is going that extra mile to increase consumer confidence,” he says. As for used imports with faulty airbags crossing the border, he says the marque cannot accurately give numbers because this changes as they arrive in New Zealand from Japan.

p7 New laws on repossession p8 Car imports boom at port p9 Toyota leads global brands p11 Profit jump for Heartland

p20 Getting on buses in China

Specialised training that’s proven to increase profits

[continued on page 4]

Funding of takeover revealed

T

he cost of the Colonial Motor Company (CMC) buying Jeff Gray European Ltd has been disclosed in financial documents. The acquisition was settled last year with about $4.34 million in cash changing hands. The takeover consisted of assets, liabilities, staff and leases relating to four BMW franchise dealerships

in Christchurch, Wellington, Palmerston North and Hastings, with those in the capital and Garden City including MINI Garages. The business now operates with its own management team, and trades from leased facilities in all four centres under the name of Jeff Gray BMW and MINI. Total assets CMC acquired in the deal came in at $13.6m,

which included inventory of about $11.6m, property, plant and equipment of $1.3m, and intangibles of $750,000. Liabilities assumed were vehicle floorplan finance of around $8.8m, and trade and other payables of $433,000. “The intangible assets acquired relate to franchise rights and customer databases recognised

p16

Premium SUV

market hots up

[continued on page 6]

GLOBAL VEHICLE LOGISTICS NZ - JAPAN - AUSTRALIA - UK - EUROPE


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