Regent Automotive, the Volvo dealer group which runs Volvo Cars London and Bishop’s Stortford, has increased its turnover by 30% from £42.9 million in 2009 to £55.8m in 2010.
Used car sales were up by 35%, new car retail sales were up by 2.5% and total new car sales were up by 13% across the group’s five Volvo sites in Colindale north London; Euston Road, central London; Chiswick, west London; and Bishop’s Stortford.
The group also has an aftersales facility in Regent’s Park. Service hours sold were up 6% and parts sales were up 16% across the group.
Regent's profit before tax was down to £808,245 in 2010, compared to £911,602 in 2009.
Regent said the PBT was lower due to investing £500,000 in a new start-up business in Bishop’s Stortford which opened in September 2010.
Tracey Perry, Regent Automotive’s managing director, said: “The team has worked exceptionally hard and we have implemented a number of strategies, both customer-facing and process-driven, which have helped boost our business performance in 2010.
“With an economy that’s really suffering and amidst much uncertainty, we cannot be any happier with our end of year results.”
A number of initiatives enabled Regent Automotive to pull off its impressive feat including the launch of a customer promise, the continued focus on its “Project 100” used car sales programme and its aftersales customer contact programme which saw the business achieve a ‘highly commended’ in AM’s Aftersales Operation of the Year Awards 2011.
Regent Automotive has 12 “promises” that employees adhere to when liaising with colleagues and customers which has helped the group focus on its communication channels making them “clear, concise and effective”.
The company’s aftersales customer contact programme uses a mix of email, SMS and letter reminders as well as phone calls ensuring customers are contacted according to their preference which has helped boost service bookings and reduce ‘no-shows’.
The company also opened a new dealership, Volvo Cars Bishop’s Stortford, in September last year at a one-acre site at Stortford Hall Industrial Estate on Dunmow Road which is also performing beyond expectations.
Regent Automotive is now on the lookout for a suitable dealership site in south London to spread its portfolio in the capital.
Tracey adds: “We have laid the foundations for an even better 2011 and our teams are relishing the challenge to outperform last year. We believe that by putting our customers at the very heart of everything we do means that our successes will continue and the company will flourish.”