The Colonial Motor Company, listed in 1962, is the last family-controlled NZX company.
A majority of the 50 largest shareholders, who own almost 64%, are Gibbons family members or descendants.
Jim Gibbons is chairman, Graeme Gibbons is chief executive and Stuart Gibbons is on the board.
The company, which owns more than a dozen mainly Ford dealerships, and also deals in Mazda franchises and tractors and trucks, returned a record profit last year. However, its most recent half-year report shows profit down 9% to $10.8 million from the previous period.
“The immediate outlook is for revenue to remain high but lower margins and higher costs will constrain trading profitability,” its half-year report says.
It comes as the Motor Industry Association figures show a decline in new car registrations this year. It has said that after a sustained period of growth the 2019 market is likely to be down on last year.
Colonial Motors was started in 1859 as a coach-building company. Hope Gibbons took a cornerstone shareholding in 1918 and his descendants have steered the company ever since.
The original company was the first to import Ford vehicles and also assembled them from 1922-36 when Ford had its own plant in the Hutt Valley.
It was incorporated in 1919, making it one of the oldest listed companies.
Its market capitalisation is about $263 million, making the family’s share worth about $165 million.
2018: $135 million