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.
July’s trading was just above break-even for the average franchised dealership, according to data from ASE.
Lookers has reported that trading toughened in the second quarter of 2019 and warned that its earnings at the mid-year point will likely be down by 25% year-on-year.
Franchised dealer profit figures for May show on average a loss of almost £10,000 per site, according to data from ASE
Pre-tax profits rocketed 71% at used car supermarket group Motorpoint as it ramped up sales and won record levels of repeat business.
Auto Trader has announced pre-tax profits of £211 million from £330m revenues during the year to March 31.
First quarter profitability has slumped "in line with expectations", said Pendragon in a trading update, as its new and used car revenues have declined.
Pendragon is set to review and restructure its franchised dealer operations after issuing a profit warning to the London Stock Exchange.
Nissan dealer profits hit a record high in 2015, averaging 1.5% RoS, yet have failed to take full advantage of successive years of growth, says MD Jim Wright.
The new car market looks set to hit a record level in 2015 but dealer profitability certainly doesn’t, warns ASE Global chairman Mike Jones.
The average UK motor retailer made an average of £73,200 during the plate change month of September, according to the latest ASE figures.
Automotive Management Live: Where franchised and independent dealers will find everything they need to know about operating a modern showroom and service and repair facility fit for the digital age.
When: November 12 2020
Where: Birmingham NEC
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