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.
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.
Peugeot UK managing director David Peel told delegates at the brand’s national dealer conference to “be prepared” for electric vehicles as its makes the transition to an EV model line-up.
The dealer landscape looks very different today than it did 10 years ago. Rapid advancements in technology, the demand for a short lead-time from buying decisions to delivery, and changes to legislation and regulation leave dealerships scrambling to stay ahead of the curve.
Car retailers avoided a repeat of the record losses incurred during November 2017 with their trading during the penultimate month of 2018, but still posted an £8,500 average deficit.
Franchised dealer profits in October were up by £7,500 in October year-on-year, after a £1,500 loss in October 2017, said ASE Global.
Lookers has reported growth in its used car and aftersales operations as new car volumes and turnover declined in-line with the market during the period to September 30.
The September 1 introduction of Worldwide Harmonised Light Vehicle Test Procedure (WLTP) has been blamed for a 20% slump in car dealership profits during the key ‘plate-change month.
Cap HPI has warned that large car retail groups that inaccurate vehicle data could be costing their business £117,000 a year in findings from a profitability study carried out in partnership with the Institute of Transport Studies.
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.
HR Owen’s Rolls-Royce Motor Cars London site has been named Global Dealer of the Year at the Rolls-Royce World Dealer Conference, held at Goodwood.
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%.
