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MMNZ Closes Network Chapter

Media Release

Thursday, 19 April 2007

MMNZ Closes Network Chapter


Mitsubishi Motors New Zealand has sold its Lower Hutt and Wellington Kirk Motors businesses to the Armstrong Motor Group.

The sale takes effect on 1 June and both operations will continue to retail Mitsubishi products. They are the last Kirk Motors dealerships still owned by Mitsubishi Motors New Zealand, whose entire 37-strong car dealer network will now be independently owned and operated.

Christchurch’s Rick Armstrong started business in 1993 and over recent years has been acquiring automotive franchises throughout the South Island and in Wellington.

The Kirk Motors sale marks Mitsubishi Motors’ exit from more than 30 years of directly operating retail dealerships in New Zealand.

“Our core business lies in wholesale distribution and marketing, so it makes sound business sense for us to concentrate totally on those activities,” said Peter Wilkins, MMNZ general manager of sales and marketing.

"Rick Armstrong has aggressively expanded his automotive operations over recent years and we warmly welcome his professional vehicle retailing expertise into our dealer network,” said Mr Wilkins.

The Wellington and Lower Hutt businesses will trade as Armstrong Mitsubishi. Staff have been offered new contracts to retain their current positions.

ENDS

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