Pre-tax profits have dropped by 18.3% at the UK’s largest independent car dealer group Motorpoint.
2019 half-year pre-tax profits at Caffyns have plunged 92% from the same period in 2018 as it battled Volkswagen and Audi supply problems and “a difficult economic and political background”.
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.
AM100 car dealer group Lookers has announced that chief executive Andy Bruce and chief operating officer Nigel McMinn are leaving at the end of this year.
Pendragon has delivered an interim statement to share news of a 57.9% growth in underlying profit before tax as revenues and profits continued to decline amid mass site closures during Q3.
Vertu Motors chief executive Robert Forrester has said that he wishes he could “ban the BBC” among the group’s employees as he bids to block out Brexit negativity to focus on sales process.
Vertu Motors chief executive has said that maintaining the car retail group’s strategic “discipline” to achieve growth in turnover and profits during the six month period to August 31, 2019.
Sytner Group has reported a 7% increase in turnover and 14.2% rise in pre-tax profitability as it delivered a record set of annual financial results in the year to December 31, 2018.
Peoples Ford chairman Brian Gilda has repeated his warning that a no deal Brexit will trigger “Armageddon” for UK industry as the group announced its latest set of annual financial results.
Imperial Cars will aim to prepare 3,500 used vehicles for sale via its car supermarket network each month at its new 10.8-acre Bristol facility which begun operation this week.
Pendragon’s plan to close 22 of its 34 UK-wide Evans Halshaw Car Store used car retail sites gathered momentum last week with staff taking to social media to share their sadness at site closures.
Arnold Clark’s pre-tax profit increased by 6.5% as group turnover rose by 7.8% during 2018 after growth in used car sales volumes helped to counteract the effects of a decline car retail market.
Richard Hardie Group has said that “subdued retail confidence”, traffic disruption and the FCA Group's poor 2018 sales performance were to blame for a second consecutive year of pre-tax losses.
Pendragon has announced plans to close 22 of its Car Store used car supermarkets and one vehicle preparation centre after detailing a £32.2m underlying pre-tax loss in its H1 2019 financial results.
Bolton Car Centre (BCC Group) has expressed concerns about the impact of Brexit despite a 60.7% pre-tax profit boost delivered with the help of a new Hyundai franchise.
Cambria Automobiles reports that its profit per unit in new and used car sales has strengthened during the first 11 months of its financial year.
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).
Marshall Motor Holdings has reported a 9% decline in pre-tax profits in its interim financial results to June 30, 2019 – despite outperforming the UK’s declining new car market.
Read Motor Group has said that it overcame ‘”aggressive competition” in the new car retail sector to grow turnover and profit during 2018.