Cambria Automobiles’ transition towards luxury car sales with the opening of new Bentley, Lamborghini and McLaren showrooms has helped it to a 37.4% increase in profit before tax in its latest annual financial results.
Shelbourne Motors in Northern Ireland has reported 2018 pre-tax profits of £1.2m, a 28% improvement on the prior year. Its directors will hope for further growth ahead following competion of a £5m investment into a new multi-franchise complex in Newry.
Lookers is investing £10 million over the next two years in a bid to deliver a “gold-plated” sales process ahead of the launch of an official investigation of the business by the Financial Conduct Authority (FCA).
Ford franchisee Pertwee & Back has suffered a 43.4% decline in turnover as it slipped into loss following a decision to improve profitability by placing a “greater emphasis on higher margin retail sales”.
Group 1 Automotive's president and CEO has said that Volkswagen encouraged its recent acquisition of dealerships from Inchcape despite its own plans for a period of consolidation in a “challenging” UK market.