Marshall Motor Holdings said its full year 2018 profits are still expected to beat its record last year, despite the industry issues caused by WLTP.
It said its October trading was “better than anticipated” and it now has a more positive outlook for the remainder of the current financial year.
“As previously announced on 11 October 2018, the introduction of the new Worldwide Harmonised Light Vehicle Test Procedure ("WLTP") had a significant impact on the UK new vehicle market during September 2018 which was expected to continue for the remainder of the year.
“Whilst the resultant new car supply imbalance is continuing, growth in our used car volumes and margins given supply constraints in the new car market, combined with further revenue growth achieved in aftersales, has given us more confidence over the expected outcome for the year,” said its trading update to the London Stock Exchange.
Its financial results for 2018 will be published on March 13, 2019.
As editor, Tim is responsible for the media content, planning and production of AM's multiple channels (AM print and digital magazines, website, social media and contributing to our events planning). He interviews and writes about as many franchised dealer groups and UK divisions of motor manufacturers as possible, to explore the issues facing UK motor retail and understand what solutions dealers and suppliers are using to overcome these.
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