The average UK car retailer saw profitability decline by 75% year-on-year in October and is likely to end 2019 with a 9% overall reduction in overall profit, ASE has reported.
The latest car dealer profitability analysis from ASE has revealed that the average retailer experienced a £3,000 year-on-year increase in profits during September.
Substantial franchised car retail network reductions and restructuring is required if operators are to benefit from a significant increase in the profitability of operators, according to a new report published by the ICDP.
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.
The average UK car dealer lost £14,000 during August in what has been described as a “significant deterioration” on the break-even result achieved in the same month a year earlier.
Fully salaried wages may help mitigate motor retail employees’ ‘financial shock’ worries
July’s trading was just above break-even for the average franchised dealership, according to data from ASE.
Hatfields Group has published details of record profitability in a set of 2018 annual financial results which revealed a 7% increase in turnover and 17% growth in profit before tax.
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.
Franchised dealer profit figures for May show on average a loss of almost £10,000 per site, according to data from ASE
Car dealers have been called upon to end unnecessary used vehicle stock value losses of up to 5% by creating a centralised national service history database.
HR Owen’s annual financial results for 2018/19 have revealed that the London-based supercar and luxury car retailer has delivered a four-fold increase in pre-tax profits in the three years since its acquisition by the Malaysian Berjaya Group.
Car dealers registered a “marginal” year-on-year improvement in profits during April, according to ASE – the month’s average total amounting to £5,000.
Pendragon needs to refocus its Car Store used car supermarket strategy as it seeks out “self-help opportunities” in light of an operational business review which predicted that the group would make a significant loss in H1, 2019.
Cartime is targeting a £100 million turnover by 2021 after celebrating a set of annual financial results which revealed a 28.7% rise in revenues and 27% increase in pre-tax profits in 2018.
Fast-expanding Motordepot has revealed a 35% increase in turnover and 16% growth in pre-tax profits in a financial period which saw the independent retailer open three used car supermarkets.
Islington Motor Group has been awarded with Citroen UK’s Golden Chevron award in recognition of an “outstanding turnaround” as part of the brand’s dealer improvement programme.
Car retailers improved their profitability by 4.4% year-on-year to an average of £118,000 during March, according to the latest data published by ASE.
Swansway Motor Group has reported a 35% increase in its profit before tax in its annual financial results for 2018 – despite a decline in turnover.
Dealer groups are increasingly shedding debt and reviewing working capital practices to brace against falling sales and an unpredictable political landscape
Car retailers were unable to take advantage of a milder February on their forecourts as profitability statistics published by ASE showed a £19,600 loss during the month – matching 2018’s performance.
J & A Rigbye & Sons was named Citroën UK's retailer of the year as it scored an awards hat-trick and the brand hosted ‘The Party of the Century’ to celebrate its 100th anniversary.
Dealers have started 2019 with a rise in profits, according to data collected by ASE.
Stoneacre Motor Group has reported turnover growth of 9% and profit before tax up 34% in its financial results for 2018.
Car dealers showed their ability to adapt to challenging market conditions by achieving an average profit of £2,900 during December, ASE has reported.
