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Lookers best car retailer at shareholder awards

Lookers has been named best European car retailer in the 2008 European Automotive Shareholder Value Awards.

The annual awards use the PricewaterhouseCoopers European Shareholder Value Index to recognise the highest shareholder value return for European vehicle manufacturers, European parts suppliers and European retailers over one and three year periods.

Lookers was rewarded for returning 25% over three years.

Jason Wakelam, transaction services automotive leader, PricewaterhouseCoopers, said: “The automotive industry has been impacted by fierce competition, increasing fuel and raw material prices, environmental concerns and credit market difficulties.

“The performance of the recipients of this year’s awards are therefore particularly deserving of commendation.”

Volkswagen won the award for European vehicle manufacturer and ElringKlinger, the won the award for best European parts supplier.

VW returns were 65% for one year and 432% for three years. ElringKlinger outperformed the parts supplier sector with returns of 24% for one year and 125% for three years.

The PricewaterhouseCoopers European Automotive Shareholder Value Index was launched nine years ago. It looks at the value of €100 (£79.40p) invested in an automotive stock over one and three year periods, ending March 31, 2008. It then compares the relative returns generated by different companies and industry segments. This gives an objective and reliable measure of shareholder value for Europe’s stock market listed automotive companies.

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