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>> >> >> Result For The Six Months To 31 December 2020 Result for the six months to 31 December 2020 18/02/2021 ANNOUNCEMENT OF HALF YEAR RESULT The Colonial Motor Company Limited has released its half year report for the six months ended 31 December 2020 . The Chairman , Jim Gibbons , confirmed that revenue was up 4.6 % on the same period last year , with most of this growth occurring in the last month . Favourable trading conditions flowed through to a Trading Profit after tax up 58 % on the low 2019 result and up 18 % on 2018 . Mr Gibbons said that the new vehicle market for the full calendar year was down 22 % on the previous year , but that disguised a stronger second half . Most of the decline in the second half was due to the absence of the seasonal concentration of rental car registrations . The business and private market available to retail dealerships in the second half of the year was very similar to the previous year . The new vehicle market is now dominated by supply constraints . Early Covid predictions over - estimated the market decline resulting in reduced ordering of product by distributors . The subsequent faster and stronger recovery has stayed ahead of supply due to Covid related capacity constraints and supply chain disruption . The issues are widespread . Consumers have adapted and are committing to forward orders , or selecting from what is physically available . Near - new used vehicles are also affected with significant shortages . Mr Gibbons said that Southpac Trucks successfully launched the new Euro6 range of DAF heavy trucks into a declining market and where the Euro6 emission standard is not mandatory . The New Zealand heavy truck market was down 22 % on the previous year . Mr Gibbons commented on the Government's planned Clean Car Import Standard . It is a supply driven requirement for all new vehicle importers to meet stringent CO2 emission averages by 2025. Mr Gibbons pointed out that 95 % of the new vehicles registered in 2020 did not meet the required average of 105gm of CO2 / km . The ability of the importing franchisors to meet the target in the required timeframe cannot be taken for granted where the international supply of very low emission vehicles , EVs and PHEVS , is both limited and disrupted . The new technologies necessary to meet the required standard will cost significantly more than the current price ranges . The Company has three ongoing facility developments . At Christchurch , the Team Hutchinson Ford greenway project will be completed this financial year . At Lower Hutt , the separate Ford and Mazda showrooms have been completed but other work on the site continues . At Botany , a new Southern Autos - Manukau facility for Suzuki and Isuzu will open in March . The Directors have declared a fully imputed interim dividend of 15 cents per share .