In a statement made at its annual meeting this morning the dealer group said: "Since July, when we reported our preliminary results for the year to April 30, retail consumer demand in the UK for new vehicles has remained subdued. As predicted, across the industry, sales of new vehicles to private buyers in September, a month of registration number change, are anticipated to be below September 2004 levels.
"We are pleased to report that the group has outperformed the private new car market in the financial year to date with higher retail sales of new vehicles on a like-for-like basis against last year. The group continues to experience improved performances from the dealerships opened or acquired within the last three years as the Reg Vardy marketing and management model has been implemented in each dealership."
Reg Vardy also says it is benefiting from ‘strong’ demand for used cars over the summer months and satisfactory performance from its aftersales operation.
"Whilst we continue to be cautious about the new retail vehicle market in the current year, the overall performance from our dealership operations has been most encouraging and we remain confident of a satisfactory outcome for the current financial year," the statement concludes.