COVID-19 and the EU’s new RDE CO2 emission regulations were cited as the “key events” which resulted in a 5.4% decline in revenues in the car retail group’s 2020 annual financial results.
Motorpoint has completed almost 2,000 home delivery orders two months since beginning the service, and is set to expand to 15 sites with Glasgow and Stockton showrooms
Halfords reports that its Autocentres car repair chain grew sales by 18.8% in its financial year to April 3, helped by acquisitions and Halfords being deemed an essential retailer during lockdown.
Marshall Motor Holdings expects to report a first-half pre-tax loss due to the 10 week closure of its showrooms by COVID-19 counter-measures.
Nissan is set to close its Barcelona plant as it consolidates its European manufacturing operations in Sunderland as part of cost-saving measures designed to achieve a 5% profit margin within four years.
Inchcape’s revenues have dropped 32% in the first four months of 2020 as the international auto retailer and distributor battled coronavirus impact.
COVID-19 disruption wiped out almost £5 million operating profit at Pendragon’s franchised dealerships before the end of March, a trading statement today reveals.
Cambria Automobiles chief executive Mark Lavery has conceded that “over 100 redundancies” are possible within his car retail group when the Government's coronavirus job retention scheme’s (CJRS) furlough period ends.
Cambria Automobiles has reported increased profitability in interim financial results revealing that the AM100 car retail group was performing 'ahead of expectations' prior to the COVID-19 lockdown.
Companies House has announced a three-month extension to the to the year-end accounts filing deadline in response to the impact of COVID-19 coronavirus.
Cambria Automobiles has claimed that a shift towards luxury car retail enabled it to maintain profits as manufacturers adjusted vehicle supplies to mitigate the impact of new EU CO2 emissions regulations.
Inchcape reported a 1.3% increase in turnover and a 256% increase in its profit before tax in its full-year financial results for 2019.
Pendragon has claimed that its performance “improved significantly” during the second half of 2019, as it carried out the closure of 22 of its nationwide Car Store used car dealership sites.
Cambria Automobiles has reported that it is “well positioned for 2020” despite suffering a 9.4% decline in new car sales in the first three months of its current fiscal year.
Pre-tax profits have dropped by 18.3% at the UK’s largest independent car dealer group Motorpoint.
2019 half-year pre-tax profits at Caffyns have plunged 92% from the same period in 2018 as it battled Volkswagen and Audi supply problems and “a difficult economic and political background”.
Cambria Automobiles’ transition towards luxury car sales with the opening of new Bentley, Lamborghini and McLaren showrooms has helped it to a 37.4% increase in profit before tax in its latest annual financial results.
AM100 car dealer group Lookers has announced that chief executive Andy Bruce and chief operating officer Nigel McMinn are leaving at the end of this year.
Pendragon has delivered an interim statement to share news of a 57.9% growth in underlying profit before tax as revenues and profits continued to decline amid mass site closures during Q3.
Vertu Motors chief executive Robert Forrester has said that he wishes he could “ban the BBC” among the group’s employees as he bids to block out Brexit negativity to focus on sales process.
