AM Online

Pendragon opens Gloucester Evans Halshaw Car Store

Inside the new Evans Halshaw Car Store, Gloucester

Pendragon has continued to expand its Evans Halshaw Car Store network with the opening of a new facility at Barnwood Point in Gloucester.

AM reported ten months ago that the number two-ranked AM100 operation had gained planning permission for the used car operation and the facility is now fully open – creating 35 jobs.

The new development, located on the corner of Barnwood Road and the A417 Corinium Avenue, includes a 10,000 sq ft multi-brand used car showroom, parking for 255 vehicles and a wash bay.

Adrian Rowley, partner at Alder King, who brokered the sale of the site to Pendragon, said: "Barnwood Point has been a great success. A combination of new build and refurbishment has transformed this landmark site into one of the city's best roadside locations.

"The regeneration of this high-profile plot will bring significant economic and environmental benefits and will in itself be a major driver of footfall to this busy part of the city."

Earlier this month Pendragon set out a plan to double its used car revenues in 2017 after new car turnover declined 1.4% in 2016 – despite a 1.9% overall rise in revenue to £4.54 billion.

The group grew gross profit from used cars 3.6% to £162 million in 2016 (2015: £156.3 million).

Pendragon chief executive, Trevor Finn, said: “Future growth will be driven by our initiatives, our investment in additional physical capacity for used car sales and by our strategic advantages in IT and intellectual property.

“We believe that we can achieve at least double digit growth in used revenue in 2017 and our aspiration over the next five years is to double our used vehicle revenue.

Pendragon will be opening five sites in the first half of 2017 and has five sites “actively being pursued for the second half of 2017”, Finn said, adding: “This investment will take place over the coming four year period and is expected to amount to approximately £100 million in total investment since initiation in 2015 (assuming all additional sites are freehold).”

Click here for used car best practice and procurement insight

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

Comment as guest


Login  /  Register

Comments

No comments have been made yet.