represented Subaru in Australia as Importer and Distributor for ten years.
The current market share of 3.5% is the largest share for a major Subaru
market outside of Japan.
In line with our strategy to broaden our earnings base we will become, later
this year, the exclusive retailer for Subaru in greater Melbourne. This
territory represents some 20.0% of the Australian market and the business is
expected to sell c. 6,000 new and used cars per annum.
In Sydney we exclusively retail VW and Jaguar, part of PAGA, through six
dealerships and have long-term contracts with the manufacturers. We also
represent Volvo, also part of PAGA, and acquired a Subaru dealership in 2001.
We are looking to expand this business as our Retail strategy for Australia