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Lookers will close deal on VW outlets

Lookers is expected to close a deal for two Volkswagen outlets by the end of the month.

Ken Surgenor, Lookers chief executive, said the German marque was an obvious gap in its portfolio, but has not yet identified a seller.

The Manchester-based company is also looking to add BMW dealerships to its current relationships with 31 manufacturers, reported The Daily Mail.

Following on from its financial results released yesterday, which saw a seven per cent increase in pretax profits for 2007, Surgenor said the parts business would help protect its bottom line from the downturn in new car sales expected this year.

He added that customers holding back from replacing their cars would result in higher maintenance spends on existing vehicles.

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