Inchcape’s growing profitability from global vehicle distribution were offset by a challenging retail sector during 2018 – with revenues up 3.6% but underlying profit before tax down by 6.5%.
Stoneacre has become the latest new addition to the MG Motor UK car retail network with the opening of a new franchised site in Greater Manchester.
New car dealership developments for Marshall Motor Group and Vantage Motor Group have been showcased by their respective business leaders via social media.
Stoneacre Motor Group has reported turnover growth of 9% and profit before tax up 34% in its financial results for 2018.
Vertu Motors has completed the acquisition of online commercial vehicles retailer Vans Direct for a total consideration of £7.5 million.
Cambria Automobiles has reported that increased profit per unit generated by its luxury franchise portfolio helped to mitigate the effects of a 24.9% slump in new car sales during the three months to the end of November.
Motor retailers' falls in turnover and profitability spur the AM100 to diversify and, maybe, to seek a new model
The automotive retail sector needs a more rational approach to management, argues Piers Trenear-Thomas
Inchcape has gained planning approval to develop a new Jaguar Land Rover dealership on Derby’s former cattle market.
JCT600 has closed the doors of its Vauxhall franchise in Shipley for the final time as it reduces its representation with the PSA Group brand to two sites.
Cambria Automobiles has recorded a 2.2% decline in revenues and 19.7% drop in profit before tax as an overhaul of its franchise representation led to “significant disruption” in its financial year to August 31.
Cambria has marked a new milestone in its luxury-leaning franchise strategy with the opened of its second Lamborghini dealership - introducing the Italian supercar brand to Tunbridge Wells.
Pendragon has projected full-year financial results delivering a further 17.2% decline in underlying profit before tax in an interim management statement revealing declines in turnover and profit during Q3.
Marshall Motor Holdings announced the appointment of Richard Blumberger as chief financial officer - replacing Mark Raban in 2019.
Vantage Motor Group has reported a return to profitability in its annual financial results following the sale of ‘unprofitable businesses’.
Pendragon share prices fell by over 21% as markets opened this morning as the AM100 franchise car retailer issued a fresh profit warning.
Peoples' chairman Brian Gilda has warned of Brexit “Armageddon” for the UK’s automotive sector after the Scottish retail group negotiated “fierce competition and diminishing volumes” to realise a £274.4 million turnover.
Vertu chief executive Robert Forrester has said that the business is actively looking for new investments after putting in place further measures to further strengthen its “ultra conservative” balance sheet.
Stoneacre Motor Group is set to achieve its ambition of becoming a £1 billion turnover car retail group a year early following the acquisition of four Mill Garages Northeast Ltd Volvo dealerships.
Snows Motor Group has acquired Perrys Group’s single-site multi-brand dealership selling Fiat, Mazda and Peugeot in Portsmouth.