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.
Vertu chairman Peter Jones will tell this morning’s car retail group AGM that the group experienced profit declines of £2.3 million from new car sales and £1.1 million from use in the four month period to June 30.
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