Buoyant car registrations resulting from the September switch-over to WLTP and RDE fuel economy and emissions tests saw car dealers defy the usual August slump with a £200 average profit, ASE has reported.
Car dealers reduced their July losses by almost £5,000 year-on-year to “emphasise improvements made over 2017”, ASE’s monthly profitability report has shown.
UK dealers saw profitability increase by 74% during Q2 this year, despite a slight slip in June’s performance, according to the latest figures from ASE.
Pre-tax profits rocketed 71% at used car supermarket group Motorpoint as it ramped up sales and won record levels of repeat business.
Auto Trader has announced pre-tax profits of £211 million from £330m revenues during the year to March 31.
First quarter profitability has slumped "in line with expectations", said Pendragon in a trading update, as its new and used car revenues have declined.
Car retailers posted a monthly loss of £18,000 in February as new car margins continued to deteriorate ahead of a disappointing month of registrations in March.
Car dealers who generated an £17,000 average profit in December 2016 suffered the effects of a £400 loss 12 months later, according to ASE.
Mazda Motors UK has celebrated a 38% average increase in profitability across its UK car dealer network during 2017 - despite falling registrations.
Car retailers recorded an average loss of £19,000 in a "tough" November as the average return on sales percentage dipped to 0.97%.
A quarterly dealer attitude survey carried out by Close Brothers Motor Finance has found that 92% of dealerships are confident about market prospects for 2018.
Pendragon is set to review and restructure its franchised dealer operations after issuing a profit warning to the London Stock Exchange.
Vertu Motors has reported six-months of growth in operating profit, earnings per share, dividends and return on sales despite revenues remaining flat at £1.45bn.
Franchised dealers have continued to take a hit to their profits. Data from ASE Global shows in August the average dealership lost almost £17,000.
A third of car dealers believe the cost of technology investment is a threat to their business’s future growth and profitability, according to new research from Santander Consumer Finance.
Beadles Group has reported a 12% decline in pre-tax profits to £2.6 million in its first set of annual results since its acquisition by Group 1 Automotive.
A loss of £17,000 was experienced by the average UK motor retailer in May – a result £7,000 down year-on-year.
Learn the lessons of the UK’s most profitable dealer groups with ASE's profit clinic at the Automotive Management Live exhibition.
UK dealers' Q1 profits were up 20% year-on-year, but new car volumes are off to a slow start in the first half of Q2, they warn AM.
JCT600 has recorded revenues up 7% to £1.222 billion amid challenging market conditions which prompted a £2.8 million fall in operating profit.
