New developments at the 2019 AM100 Dinner will celebrate the ‘unsung heroes’ of dealer groups and the ‘rising stars’ across all motor retail industry companies.
Hendy Group expects to scale the AM100 with a turnover of over £1 billion following its acquisition South Coast-based Westover Group.
Sytner Group has secured a long-term lease on a 34,000 sq-ft building as part of plans to create a PDI and aftersales facility for its premium and luxury car franchises.
Marshall chief executive Daksh Gupta said that the group is well-placed to make “another Ridgeway-style acquisition” as he highlighted a strong balance sheet amid 2018 financial results which revealed a 2% decline in turnover.
Lookers recorded a 9% decline in pre-tax profits despite growth in aftersales and used cars as WLTP impacted new car supplies and economic uncertainty impacted consumer confidence in 2018.
TrustFord has celebrated the opening of its new £2.2m FordStore in Cribbs Causeway, Bristol, following a £2.2 million investment in new facilities and interactive technology for its customers.
Vertu Motors chief executive Robert Forrester has said that the group is “well positioned to take full advantage of tougher markets” in a trading update for the AM100 car retail group.
Inchcape’s growing profitability from global vehicle distribution were offset by a challenging retail sector during 2018 – with revenues up 3.6% but underlying profit before tax down by 6.5%.
Stoneacre has become the latest new addition to the MG Motor UK car retail network with the opening of a new franchised site in Greater Manchester.
New car dealership developments for Marshall Motor Group and Vantage Motor Group have been showcased by their respective business leaders via social media.
Stoneacre Motor Group has reported turnover growth of 9% and profit before tax up 34% in its financial results for 2018.
Vertu Motors has completed the acquisition of online commercial vehicles retailer Vans Direct for a total consideration of £7.5 million.
Cambria Automobiles has reported that increased profit per unit generated by its luxury franchise portfolio helped to mitigate the effects of a 24.9% slump in new car sales during the three months to the end of November.
Motor retailers' falls in turnover and profitability spur the AM100 to diversify and, maybe, to seek a new model
The automotive retail sector needs a more rational approach to management, argues Piers Trenear-Thomas
Inchcape has gained planning approval to develop a new Jaguar Land Rover dealership on Derby’s former cattle market.
JCT600 has closed the doors of its Vauxhall franchise in Shipley for the final time as it reduces its representation with the PSA Group brand to two sites.
Cambria Automobiles has recorded a 2.2% decline in revenues and 19.7% drop in profit before tax as an overhaul of its franchise representation led to “significant disruption” in its financial year to August 31.
Cambria has marked a new milestone in its luxury-leaning franchise strategy with the opened of its second Lamborghini dealership - introducing the Italian supercar brand to Tunbridge Wells.
Pendragon has projected full-year financial results delivering a further 17.2% decline in underlying profit before tax in an interim management statement revealing declines in turnover and profit during Q3.
