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Now Motor Retailing returns Lance Owen to profit

The Lance Owen group lost almost half a million pounds in 2005. That didn’t deter Jon Taylor, who bought five of its Vauxhall dealerships just over a year ago in a joint venture deal with Vauxhall Motor Holdings. He called the business Now Motor Retailing.

It was Taylor's first move into business ownership – and a challenging five sites to take on.

Although it was a respected name in the Surrey and Middlesex region, Lance Owen had suffered from a lack of investment in premises and people for a couple of years. Three sites were in need of urgent refurbishment which was carried during 2007.

Despite the upheaval of the site refurbishments, the business turnaround has been rapid. From a loss-making position, Now Motor Retailing will make a return on sales this year of around 2.1% on turnover of £35m. Its market share has risen to almost 8% and touched 10% in July and September, double the share under the previous ownership. The target is to be number one requiring a share of at least 12%.

  • Find out how Jon Taylor turned around the business and his plans for the future in the December 21 issue of AM. To subscribe to AM magazine click here or call 01733 468659.
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