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Dot.com operation bullish with Euro importer purchase

Car World Direct.com, the wholesaler of nearly new vehicles and new EU imports, is predicting an annual turnover exceeding £170m after purchasing FRL, the UK importer of new European cars.

The Chester-based company, which claims to supply most leading dealer groups, says the acquisition means that 70 per cent of its business will now come from new imports from continental Europe.

“We should hit £170m turnover by 2003-2004,” says Gary Penney, CWD.com chairman. “By then, we'll be selling between 19,000 and 22,000 vehicles a year – and thereafter we anticipate significant year-on-year growth.”

He believes retailers can generate up to 30 per cent more profit per car as the company passes on the benefits of its purchasing power.

FRL is the latest addition to CWD.com, which last year launched Drivestreet.co.uk, a logistics and dealer-direct vehicle delivery operation.

In December 2001 it purchased vehicle rental firm Central Self Drive.

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