Sales of luxury marques at HR Owen continued to fall, the company has said.

Chief executive Nicholas Lancaster said: “Many of the group’s marques in the ultra-luxury sector continue to record falls compared to last year.”

Lancaster said sales for most brands were down by about 40% on last year.

He added: “There is still very little finance available for people wanting to buy the very-high-luxury cars that we deal in.”

Business has picked up slight in recent weeks, he said, but it was too early to see if the improvement would be sustained.

Source: The Times