AM Online

Retail sales push Nidd Vale to £63m

Nidd Vale Group has bucked the national trend for falling new cars despite shunning high volume fleet deals in favour of a strategy focusing on retail sales.

Harrogate-based Nidd Vale sold 11.5% more Vauxhall, Saab, Seat and Mazda models from its five sites last year in a market that fell almost 4%.

Colin Hainstock, Nidd Vale chairman and chief executive, claims this success, which pushed turnover up 9% year-on-year to £63m, is due to good customer retention from financial incentives and aftersales. Nidd Value also attracts sales online.

“We think we do it right. You have to be light on your feet and look outside your own territory – we sell 5,000 cars per year so the UK is our market,” Hainstock adds.

Although Nidd Vale does not reveal profits, its returns are “comfortably” above the 0.7% industry average.

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Comment as guest


Login  /  Register

Comments

No comments have been made yet.