In January this year, the group paid Pendragon £2m for two Ford dealerships, Aylesbury Ford and Chiltern Ford in High Wycombe, and although still looking for potential purchases, further activity in 2004 is unlikely.
“We don’t have anything in the pipeline at the moment and it is unlikely there will be more acquisitions this year. However we are still on the acquisition trial,” says Perrys chairman, Ken Savage.
The move is part of the group’s strategy to acquire businesses in areas where it currently has representation such as Yorkshire, Kent, Lancashire and the northern Home Counties.
Perrys currently has six locations in Lancashire including four Peugeot outlets, a Vauxhall dealership and Perrys Motor Village Preston, which has franchises for Hyundai, Mazda, Vauxhall and Kia on one site. The group is the largest independent Peugeot dealer in the country and this acquisition means it now has eight sites.
Both dealerships have been rebranded with Perrys signage. and the Blackburn dealership is due to undergo a full refurbishment. Blackburn Mazda is a small site with showroom space for 10 new cars, plus around 10 used vehicles outside. Perrys says it is one of the franchise’s best performing locations in the North-west in terms of volumes and profitability.
Nelson Peugeot is a 1.5-acre site with a 10-car showroom and forecourt display area for 70 used cars. Its target is to sell 1,000 new and used vehicles per year. In 2003, Perrys sold 16,000 new cars and 16,500 used. This year it is budgeting for 18,000 new and 18,000 used units.
“We are on track to achieve these figures. We are trading well and are currently ahead of budget,” adds Savage.