Trading Update
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Car Dealer News 7 MarCazoo appoints former CarShop CEO Jonathan Dunkley as COO
Cazoo has announced the appointment of former CarShop chief executive Jonathan Dunkley as chief operating officer in a trading update published today (March 7).
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Car Dealer News 2 MarVertu Motors asserts ‘scale is a key success factor’ in five-month trading update
Vertu Motors has asserted that ‘scale is a key success factor’ in automotive retail in a five-month trading update detailing its rapid expansion the addition of new dealership operations across the UK.
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News 27 JanMotorpoint: reduced finance income and EV values to impact profits for ‘foreseeable future’
Motorpoint chief executive Mark Carpenter has insisted the car supermarket group will succeed in its goal of becoming a “highly profitable market leader” despite faltering finance commissions and used vehicle margins.
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Car Dealer News 25 JanPendragon predicts ‘better than expected’ 2022 financials after Q4 growth
Pendragon has said that car sales growth in Q4 helped propel it to a “better than expected” 2022 financial performance in a trading update published this morning (January 25).
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Car Dealer News 19 JanCazoo plans UK site closures and job cuts after European exit
Cazoo plans to close sites and axe jobs in the UK as part of a ‘Revised 2023 plan’ following its 2022 exit from used car markets on the European mainland.
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Car Dealer News 11 JanLookers raises 2022 profit expectations and adds new car franchises
Lookers has raised its 2022 full-year profit expectations to over £80 million and revealed plans to add further to recent new car franchise additions Lotus Cars and Ora.
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Car Dealer News 18 OctLookers forecasts full-year profits ‘not less than £75m’ in Q3 trading update
Lookers increased its full-year profit expectations to £75 million and kicked-off a £15m share buyback programnme after reporting strong performance in a Q3 trading update.
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Car Dealer News 6 Sep
Vertu Motors takes car dealerships ‘off grid’ to combat energy crisis in H2
Vertu Motors is taking its car dealerships “off grid” as part of efforts to combat the soaring cost of energy in the second half of 2022.
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Manufacturer 29 JulRenault margins grow as writedown of Russia operations results in losses
The Renault Group has upgraded its profit expectations for the remainder of 2022 despite suffering H1 losses due to a writedown of its car manufacturing operations in Russia.
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Car Dealer News 28 JulSytner owner reports £412m pre-tax profit in record Q2 trading update
Sytner and CarShop owner Penske Automotive has reported a record quarter performance after delivering and 8% increase in pre-tax profits to $500 million (£412m).
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Car Dealer News 28 JulInchcape ‘confident’ of mid-term plan after 53% H1 profit growth
Inchcape is “confident” of achieving its mid-term growth plans after delivering 53% growth in its adjusted pre-tax profits in the first half of 2022.
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Car Dealer News 27 JulGroup 1 Automotive delivers record Q2 despite faltering UK car sales
Group 1 Automotive has highlighted the strength of its new car order books in the UK after reporting a record Q2 performance.
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News 27 JulMotorpoint targets trio of car supermarket openings after 30% Q1 revenue growth
Motorpoint has added plans for a Coventry used car supermarket sites to its expansion plans for Edinburgh and Milton Keynes after growing its Q1 revenues by over 30%.
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Car Dealer News 20 JulPendragon’s £33m profits deliver ‘good momentum’ ahead of H2's challenges
Pendragon chief executive Bill Berman has said that an anticipated £33 million underlying first-half pre-tax profit will give the car retail PLC “good momentum” for H2 2022.
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Car Dealer News 29 Jun
Lookers focussed on cash management amid ‘significant inflationary pressures’
Lookers has said that it will maintain its relentless focus on operational optimisation and cash management as “significant inflationary pressures” impact car retail sector’s trading performance.
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Supplier News 27 JunParagon Motor Finance and CarMoney double their car retail lending
Paragon Bank’s Motor Finance division has more than doubled the amount of car retail lending during the first half of its financial year.
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Car Dealer News 22 JunVertu Motors focussed on ‘operational excellence’ amid car retail’s H2 headwinds
Vertu Motors has said that it remains focused on the delivery of operational excellence around cost, conversion and customer experience as car retail’s headwinds deliver uncertain H2 outlook.
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Manufacturer 4 MayFormer Ferrari CEO takes helm at Aston Martin as Tobias Moers stands down
Aston Martin has appointed former Ferrari chief executive Amedeo Felisa as its new CEO as Tobias Moers stands down after less than two years at the helm of the British performance car maker.
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Car Dealer News 3 MayCazoo profits declined as used car sales and revenue accelerated in Q1
Cazoo has revealed that its gross profits and profit-per-unit both declined as its online used car sales soared to deliver record revenues in Q1 2022.
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Car Dealer News 3 May
Group 1 Automotive reveals record profits from ‘outstanding’ Q1 2022
Group 1 Automotive has revealed record turnover and profits in an ‘outstanding’ Q1 for its car retail operations in the US and UK.
