MOTOR TRADERS N.Z.

Press, Volume CI, Issue 29992, 29 November 1962, Page 22

MOTOR TRADERS N.Z.

Problems Caused By Wide Range (N.Z. Press Association) AUCKLAND, Nov. 27. The range of makes of motor vehicles on New Zealand roads created problems which were greatly accentuated by import licensing, said Mr W. K. Michael, chairman of Motor Traders (N.Z.), Ltd., at the annual meeting yesterday. It was difficult to carry adequate stocks to serve the motor repair industry. Local “Spares”

Although local manufacturer were supplying a continually increasing range, the need to import the majority of spare parts would remain for many years. Between 1956 and 1961, a total of 60 different trade marks of cars was imported, with 40 different makes of commercial vehicles.

On March 31, the vehicle population, excluding trailers and motor-cycles, totalled 782,961, of which nearly 400,000 were more than five years old. Of this total, 200,000 were more than 10 years old.

Brents Year.—Brents, Ltd., Rotorua, tourist house proprietor, lifted net profit from £10,566 to £11,722 during the year ended September 30. This was reached after providing £10,842 for tax against £10,614 a year ago. Depreciation declined from £8676 to £8436. Directors are recommending an unchanged dividend of 10 per cent. taking £7OOO against £6157 In 1961, when the shares created in the one-for-slx premium issue ranked for only the final payment of 5 per cent.