NEW MOTOR COMPANY

Sun (Auckland), Volume II, Issue 323, 7 April 1928, Page 5

NEW MOTOR COMPANY

TO INTRODUCE “OPEL” CARS

The prospectus has been issued in Auckland of a company to acquire the sol© distributing rights of Opel motor-cars for New Zealand. The “Opel” is the best-known German car; and, in fact, the works produce 50 per cent, of all automobiles manufactured in Germany. The factory is a very old-established one, and has recently been thoroughly modernised. It employs 11,000 men, the floor space occupied equals nearly 2$ million square feet, and the perfect organisation completely manufactures a motor-car every two minutes 50 seconds. This vast output is readily absorbed in the markets of South America and South Africa, which, although geographically nearer to the United States of America, prefer these Ger-man-built cars because of their good hill-climbing, strong build, low* cost and low consumption of fuel, features which must make the car also strongly appeal to New Zealand, where the conditions are very similar. This car is far superior to any other car that has yet been landed in New Zealand, and the benzine consumption cost is about half that of any of the other makes at present on the market. For example, the two-seater touring car will do 56 to 60 miles a gallon, and the four-seater closed models 50 miles a gallon. Such a car as the ' Opel'' will have a big future in this country, and a company, known as Opel Cars (X.Z.), Ltd., is being formed to operate the agency. The capital will be composed of 30,000 shares of £1 each, of which ! 20,000 ar© ordinary shares and 10,000 cumulative preference shares. The following shares are now offered to the public—9,soo cumulative preference and 5,500 ordinary shares. The terms are 5s a share, on application, and 5s a share on allotment, the balance in calls not exceeding 2s 6d a share at intervals of not less than one month (5s in the case of the cumulative preference shares). Such great interest is being maintained in this issue that intending buyers would do well not to delay. The brokers are Everitt and Greeves, Hellaby’s Buildings, Queen Street, Auckland. One of these cars lands next week. —9.