Colonial Motor warns of looming supply constraints

Thu, 18 Feb 2021

Colonial Motor Co expects to face continuing supply constraints as disrupted supply chains make it harder to bring in new stock.However, the car dealer managed to boost first-half profit 58% to $12.8 million in the six months ended Dec 31, outpacing a 4.6% increase in revenue to $437.8m.Chair Jim Gibbons said the shipping issues were made worse by dealers overestimating the anticipated covid decline and ordering less stock than they needed, with significant shortages of new and near-new used cars as a result.“The subsequent faster and str...

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