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Fair Go Needed in Bottom-End Finance

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Fair Go Needed in Bottom-End Finance VOLUME 5 ISSUE 2 APRIL 2014 Fair go needed TOYOta’S KING in bottom-end $5MILLION finance IN THE RED well-known Toyota fran- chise is up for sale, after it air Go host and journalist Gordon Harcourt told AutoTalk this week it A entered receivership this Harcourt has finally got what he was not his place to comment on the week owing creditors an esti- Fhas been waiting three years for sentence. mated $5 million. - the ability to report fully on the prac- “But I think the authorities have Owner and managing direc- tices of Mount Maunganui done a good job,” Harcourt tor David Clarke called in the dealer and finance company says. “What does concern me receivers to King Toyota, which owner Alan Spiers and his is I was down in Tauranga a has two sites in Lower Hutt and company MAC Warranties. few weeks ago at the stock other in the Upper Hutt, on late The details of Spiers case cars, and people were coming Tuesday. have been often reported. up to me saying this kind of Clarke is currently overseas. Allegations of vehicles that thing has been going on for Receiver John Fisk of Price- had been repossessed being years.” WaterhouseCoopers told Auto- revealed as ‘wrecks’, and And Harcourt believes Talk the travel was pre-arranged. Gordon Harcourt then being refurbished and such practices continue on “He had some long term plans sold for far higher retail values led to a today. and we agreed he should go,” Commerce Commission investigation. “I would be astonished if it does not says Fisk, noting Clarke will return Spiers and the company both happen elsewhere,” Harcourt says. “I in a week. pleaded guilty and were fined would be astonished if there were not A staff member at the dealer- $65,000 - on top of a compensa- a few nervous dealers out there look- ship told AutoTalk Clarke was not tion package that will see around ing at their business model.” available for comment. $180,000 credited to the loan ac- Harcourt notes some vehicles had Fisk says it is early days in the counts of victims. been sold five times - leaving debt process of working out the exact And the case carried more drama behind with multiple people. state of the company, but the than that - Speirs being convicted of He says there is a sector of the mar- debt was predominantly to three bashing Harcourt outside the dealer- ket that has no choice but to seek such secured creditors – a trading ship in 2011. Continued on page 8 bank, Toyota Financial Services and a trust related to Clark. He says the company is still INSIDE trading, and is in a good posi- In a special feature, we take a look at the tion to be sold. “We are very much treating SHIPPING AND LOGISTICS MARKET Continued on page 8 foundation sponsors AutoTalk acknowledges the support of our foundation sponsors: WEEKLY PASSENGER & COMMERCIAL VEHICLE AUCTIONS www.motorweb.co.nz www.autosure.co.nz www.udc.co.nz 2 | www.autotalk.co.nz newstalk INDUSTRY Honan’s retirement SUPPORTERS recognised by sees Giltrap Group autotalk reshuffle he Giltrap Group has promoted and relocated five senior dealership Tmanagers in it’s retailing operations in Auckland, due to the retirement of industry Phil Dixon Dave Howarth veteran Terry Honan. Former Giltrap Holden dealer principal Phil Dixon, has moved across the harbour bridge to Scho- fields Newmarket to fill the same role left vacant by Honan who has retired to Cambridge. Former Schofield Holden new vehicle sales manager Dave How- arth has been promoted to the Chris Davey Alby Peterson James Dobbie role of dealer principal for Giltrap Holden, on the North Shore, as of April 1. pointments from within our retail group.” Group general manager for Giltrap Group Coutinho says the movement also retail Tony Coutinho says that Dixon has presented other opportunities to promote been successfully running Giltrap Holden for staff members from within the Giltrap more than six years, and that there is no big- Group retail division. ger opportunity for him than taking on the Albie Peterson has been promoted to role at Schofields. the role of Giltrap Holden new vehicles sales autotalk Coutinho says that Howarth equally has manager, while the previous incumbent AutoTalk Magazine and autotalk.co.nz are published by an excellent track record from his time on James Dobbie has been promoted to the Auto Media Group Limited. P.O.Box the floor at Schofields and it was a great op- role at Schofields vacated by Howarth. 10 50 10, Auckland City, 1030. Ph. portunity for the company to promote him Chris Davey who held the Giltrap Holden 09 309 2444. to a more senior role. new vehicles sales manager role prior to Publisher: Vern Whitehead “We are looking forward to big things Dobbie, is now the general sales manager at [email protected] from both of them,” says Coutinho. “We are Giltrap Nissan and Coutinho says the dealer- Managing editor: Richard Edwards very pleased to have made all these ap- ship is flourishing under his control. [email protected] Chief Reporter: Robert Barry [email protected] Sales manager: Dale Stevenson Dramatic INCREASE IN [email protected] Identicar manager: John Stephens DEALER NumbERS [email protected] Traffic & subscriptions administrator: Deborah Baxter he number of registered traders - and a whopping 22% increase on the [email protected] has taken a dramatic leap - increas- number at the end of March last year. Auto Media Group Limited makes ing by more than 10% in a single Industry observers believe that the every endeavour to ensure infor- T mation contained in this publica- month. increase in dealer numbers is caused by tion is accurate, however we are There are now more than 3000 deal- new entrants into the industry, seeking not liable for any losses or issues ers in New Zealand (3032), an increase to take advantage of what is perceived as resulting from its use. of 22% in one year. ‘easy money’ from car sales in buoyant Annual subscription: $72 + gst ($82.80) The 3032 dealers registered at the end economic times. Printed by: Alpine Printers. of March, represents a 10+% increase on It may also be that non-registered the 2744 traders at the end of February Continued on page 4 www.autotalk.co.nz 3 | newstalk Christchurch dealer frustrated by road work dust rustrated Christchurch Vehicles on the GM Euro- dealer Grant McLellan pean yard at 45 Moorhouse Ffaces a cleaning bill of Street are completely cov- more than $4000 to rec- ered in dust, and McLellan tify European vehicle stock says he has seen a water sitting on his forecourt cov- truck do a lap today, but ered in dust and debris from he is frustrated that steps road works taking place on weren’t taken earlier by to Moorhouse Avenue. minimise the dirt and the The work is taking place disruption to his business on both sides of Moor- and other yards along the house Avenue, between street. the Lincoln Road intersec- “I had one potential cus- tion and Delwyn Street. tomer come in to look at a Work began earlier this $50,000 Jaguar car that was week and is due to finish covered in dust, this is just sometime this weekend, not the way to present such but the dusty fallout will be a vehicle, and customers are “I didn’t think that the court is our showroom. costly to McLellan and other going to be very reluctant road surface needed to be “We’ve washed the front car dealers along the street to even come on to the yard ripped up, it was fine in my row of cars, but they are in terms of cleaning up because they will get cov- opinion, and the very least dusty again. We’ll need to and lost opportunity to sell ered in dust being churned they could have done was get all the cars properly vehicles. up by the traffic. send a water truck down groomed and detailed again more regularly to avoid at the end of this process clouds of dust coming because dust gets inside the across the yard,” he says. boot and the doors, and the “Even the workers who bodies will need to be re- turned up to do the road polished properly, it will be a AUTO ATTENDANT repairs couldn’t believe a $4000 cost.” water truck had not been McLellan says he would The smarter web enquiry through, I don’t think a lot of like to see the road kept thought has gone into this damp and traffic speed response tool process, its not like we can restricted until work finishes pull the cars inside, the fore- this weekend. 24/7 Email Responses Personalised design & content Works with Trade Me, INCREASE IN your website & more Customer calls-to-action DEALER NumbERS All enquiries tracked Continued from page 3 Automated reminders traders on the internet are getting themselves ready to meet the terms of amended legislation which comes into effect on June 17. per The new law requires all traders to identify them- $80 month* selves as such in all auction or competitive tender NO SETUP FEE advertising. The new rules also bring $1 auctions under the re- 0800 623 687 quirements of the Consumer Guarantees Act. www.dealerzone.co.nz The current number of traders is the highest since * First Dealership. $40 per month subsequent dealerships. the onset of the global financial crisis in 2008. 4 | www.autotalk.co.nz Don’t buy your next car privately! Private Here’s why… Dealership Seller Guaranteed Clear Title Yes No Fast & Easy Competitive Finance Yes No Protection for Mechanical & Electrical Breakdown Yes No After-sale Service & Support Yes No Ability to Trade Your Car Yes No Access to Autosure’s Product Suite Yes No Want confidence for the road ahead? Buy from an Autosure Approved dealer.
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