Peoples Ford chairman Brian Gilda has repeated his warning that a no deal Brexit will trigger “Armageddon” for UK industry as the group announced its latest set of annual financial results.
Imperial Cars will aim to prepare 3,500 used vehicles for sale via its car supermarket network each month at its new 10.8-acre Bristol facility which begun operation this week.
Pendragon’s plan to close 22 of its 34 UK-wide Evans Halshaw Car Store used car retail sites gathered momentum last week with staff taking to social media to share their sadness at site closures.
Arnold Clark’s pre-tax profit increased by 6.5% as group turnover rose by 7.8% during 2018 after growth in used car sales volumes helped to counteract the effects of a decline car retail market.
Richard Hardie Group has said that “subdued retail confidence”, traffic disruption and the FCA Group's poor 2018 sales performance were to blame for a second consecutive year of pre-tax losses.
Pendragon has announced plans to close 22 of its Car Store used car supermarkets and one vehicle preparation centre after detailing a £32.2m underlying pre-tax loss in its H1 2019 financial results.
Bolton Car Centre (BCC Group) has expressed concerns about the impact of Brexit despite a 60.7% pre-tax profit boost delivered with the help of a new Hyundai franchise.
Cambria Automobiles reports that its profit per unit in new and used car sales has strengthened during the first 11 months of its financial year.
Shelbourne Motors in Northern Ireland has reported 2018 pre-tax profits of £1.2m, a 28% improvement on the prior year. Its directors will hope for further growth ahead following competion of a £5m investment into a new multi-franchise complex in Newry.
Lookers is investing £10 million over the next two years in a bid to deliver a “gold-plated” sales process ahead of the launch of an official investigation of the business by the Financial Conduct Authority (FCA).
Marshall Motor Holdings has reported a 9% decline in pre-tax profits in its interim financial results to June 30, 2019 – despite outperforming the UK’s declining new car market.
Read Motor Group has said that it overcame ‘”aggressive competition” in the new car retail sector to grow turnover and profit during 2018.
Ford franchisee Pertwee & Back has suffered a 43.4% decline in turnover as it slipped into loss following a decision to improve profitability by placing a “greater emphasis on higher margin retail sales”.
Group 1 Automotive's president and CEO has said that Volkswagen encouraged its recent acquisition of dealerships from Inchcape despite its own plans for a period of consolidation in a “challenging” UK market.
A 6.4% H1 2019 decline in revenues and 11.8% dip in operating profit during the first half of the year have prompted Renault to cut its sales targets for the full year.
Jaguar Land Rover (JLR) suffered a £395 million loss in the three months to the end of June as sales fell by 12% to 128,615.
Inchcape has said that it is targeting “revenue and cost optimisation” in the UK car retail market after its disposal of seven Volkswagen and Audi dealerships this week.
Vertu chairman Peter Jones will tell this morning’s car retail group AGM that the group experienced profit declines of £2.3 million from new car sales and £1.1 million from use in the four month period to June 30.
Marshall Motor Holdings expects its first half profits to be in line with expectations, and said it has outperformed the market in both retail and fleet new vehicle sales.
Lookers has reported that trading toughened in the second quarter of 2019 and warned that its earnings at the mid-year point will likely be down by 25% year-on-year.
