Pendragon has projected full-year financial results delivering a further 17.2% decline in underlying profit before tax in an interim management statement revealing declines in turnover and profit during Q3.
Used vehicle values are being artificially inflated as competition hots up amongst buyers for nearly new and ex-fleet stock amid WLTP-related new car shortages, according to Shoreham Vehicle Auctions (SVA).
Marshall Motor Holdings has expressed its aim of focusing on its “strong balance sheet” in a trading update issued in response to the introduction of the new Worldwide Harmonised Light Vehicle Test Procedure (WLTP).
The Society of Motor Manufacturers and Traders (SMMT) has confirmed that supply shortages caused by manufacturers’ WLTP testing backlogs triggered a 20.5% decline in new car registrations in September.
Buoyant car registrations resulting from the September switch-over to WLTP and RDE fuel economy and emissions tests saw car dealers defy the usual August slump with a £200 average profit, ASE has reported.
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