Car supermarket chain Motorpoint suffered a swing from £21.5m profits in its 2022 financial year to a £300,000 loss in its 2023 financial year, as it was hit by rising financing costs, stock shortages, depreciating electric vehicles and rising investment requirements.
Hartwell posted a 1.4% increase in profit-before tax to £3.2m for its annual results following a year of property investment.
Day's saw its revenues drop by 2.2% in 2022 to £258m, but posted increased profit performances on the back of its used, rental and fleet departments.
Caffyns, the AM car dealer group based in East Sussex, has blamed a 30% decline in profits on to inflation and higher business rates in its latest financial year.
Vertu Motors’ continued strategy to scale the group has delivered £4bn in revenues for the first time as the business reported better than expected profits.
Waylands Automotive has posted a 15% increase in profit before tax performance of £3.1 million on revenues that increased by 35.2% to £168.4m in 2022.
Used car retailer Cazoo reported a 690% year-on-year growth of gross profit per unit and overall gross profits up 367% to £14 million in Q1 as its CEO asserted that its sweeping restructure was starting to “bear fruit”.
An acceleration of new vehicle, parts and service revenues has propelled Group 1 Automotive to a record set of Q1 financial results.
Swansway Group director Peter Smyth has asserted that the car retail business is on a “strong financial footing” after 2022 financial results revealed declining profits.
Pendragon’s board expects the AM100 car retail PLC to “comfortably outperform” its previous expectations for 2023 after delivering a 23% rise in underlying pre-tax profits during Q1.
The Motorpoint used car supermarket group has revealed record revenues totalling £1.44 billion from its 2022 financial year in a trading update published this morning (April 6).
Lookers chief operating officer Duncan McPhee has said the AM100 PLC is ready to accelrate growth through acquisitions and the creation of a Lookers Car Hub used car operation.
Lookers chief executive Mark Raban has said that he is “delighted” with the car retail group’s 2022 financial results performance in light of the “supply disruption, inflation and rising interest rates” experienced in the period.
Cazoo founder Alex Chesterman said he was “incredibly proud of everything the team at Cazoo has achieved” in a financial results statement that revealed the online used car retailer’s £704 million losses for 2022.
Inchcape chief executive Duncan Tait has highlighted the success of the automotive PLC’s “portfolio shift towards distribution” as it reported a near-50% growth in profits in its 2022 annual financial results.
The £57.6m underlying pre-tax profit that Pendragon made in 2022 has exceeded expectations, despite being a 30.6% drop on 2021's £83m earnings.
Ron Brooks Group has been able to celebrate a fifth consecutive year of rising profits in its 60th anniversary year.
An 82% growth in profit for British luxury carmaker Bentley helped to boost the Volkswagen Group’s premium car division – including Audi, Lamborghini and Ducati – to record 2022 financial results.
Car retail group JT Hughes has revealed that it more than doubled its profits in 2021/22 following the addition of a new Kia franchise and a new Isuzu pick-ups dealership.
Stellantis chief executive Carlos Tavares is targeting a “transformative journey” towards electrification in the US after revealing record 2022 financial results for the car manufacturing giant.
