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Site closures as Caffyns focuses on improved sales from core dealerships

Dealer group Caffyns issued a trading statement this morning which reveals growth in regional market share and the closure of four businesses.

The publicly-listed motor retailer reports that, in the four months to the end of January, its new car volume declined only 17.9% against a total market drop in the sector of 28.4%.

Excluding 2009's scrappage sales, Caffyns new car sales were up 29%.

Used car unit sales increased by 11.3% in the four month period and aftersales turnover was up 2.3% on a like-for-like basis.

During the period the group sold its Citroen dealership in Uckfield and has closed a small Ford business in Haslemere.

It is also closing two bodyshops in Hailsham and Tunbridge Wells and a Nissan/Chevrolet dealership in Eastbourne.

It described these sites as "under-performing".

"These disposals are expected to have a positive cash impact and should enhance trading profit next year. Cash realised from sales of properties will be invested in our premium and premium-volume dealerships to continue our strategy of modernisation towards larger and more profitable sites," said its statement.

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