Swansway Group has reported record profitability and growth in its car and van sales volumes in annual financial results detailing its performance during a COVID-impacted 2020.
Motorpoint has revealed that 52% of its used car sales were completed online during a COVID-hit 2020 trading period.
Lookers sold over 44,000 new and used cars during a COVID-19 ‘Lockdown 3’ impacted Q1 to finish the period “ahead of expectations”.
Pendragon has reported an underlying profit before tax of £8.2 million in 2020 annual financial results which painted a picture of a COVID-19 impacted year of two halves for the car retail sector.
Lookers has said that it expects to deliver a “small profit” and reduced debt in its 2020 annual financial results – defying analysts’ loss predictions.
UK accounting watchdog the Financial Reporting Council (FRC) has opened an investigation into Deloitte audit of Lookers PLC’s financial statements for 2017 and 2018.
Marshall Motor Holdings chief executive Daksh Gupta has said that the AM100 PLC will consider repaying Government furlough payments “if we have the opportunity”.
Marshall Motor Holdings reported revenues down by 5.3% to £2.15 billion as pre-tax profits rose 3.7% to £20.4 million in a COVID-19 impacted 2020 car retail market.
Aston Martin’s new DBX SUV accounted for more than a quarter of the British carmaker’s 2020 sales as volumes declined by 32% in a COVID-impacted 2020.
Inchcape has confirmed that its London Stock Exchange listing has been reclassified to remove reference to retail as it disposed of 13 UK dealership locations as part of a renewed focus on distribution in 2020.
Steven Eagell Group has said that it expects to be even ‘more profitable’ in 2020 after reporting a 14% pre tax profits rise in its 2019 annual financial results.
The CarShop brand is set to go global as Penske Automotive looks to rebrand its US CarSense operation and expand its used car supermarket footprint from 17 to 40 locations by 2023.
John Clark Motor Group has said that it expects to have profitability “significantly ahead” of its pervious year in 2020 after recovering from the COVID-19 coronavirus lockdown of H1 with a “strong trading” performance.
Peter Vardy will go head-to-head the likes of Cazoo and cinch with a rebranded and expanded used car retail division following improved turnover and profitability in its 2019 annual financial results.
Donnelly Group has revealed a £2.66m pre-tax loss in its annual accounts for 2019 but stated that a rationalisation review of the car retail business had now liberated £8m in annual savings.
Marshall Motor Holdings has upgraded its profit predictions for 2020 after it “significantly outperformed” the car retail market in October and November.
Lookers has appointed Yorkshire Building Society chief financial officer Robin Churchouse as an independent non-executive director and chair of its Audit and Risk Committee, Remuneration and Nomination Committees.
Johnsons Cars will continue to target growth through acquisitions after posting an 86.3% pre-tax profits decline in its annual financial results for 2019.
Clarks of Kidderminster has growth its turnover to over £100 million after growing its car retail portfolio with the addition of Citroen, Ford, Mazda and MG franchised sites in 2019.
Peoples Ford chairman Brian Gilda has said that he is “delighted” with the outcome of a 2019/2020 annual results period which included the took the full impact of COVID-19 lockdown.
