Vertu Motors has suggested that its 2021 pre-tax profits could be up to 60% more than forecast just a month ago after continuing its “exceptional” performance in the used car market.
Motorpoint has revealed that it sold 61% of its used car volume online in Q1 as it accelerated its ecommerce retail offering to deliver a record start to 2021.
TrustFord chairman and chief executive Stuart Foulds has expressed “pride” in his workforce’s delivery of a £13.6m pre-tax profit in the first half of 2021.
South of England car dealer group Caffyns has clawed soundly back into the black amid the coronavirus pandemic thanks to efficiencies, state support and investment in online sales.
Cambria Automobiles has set out its roadmap to car retail recovery in a trading updated for a six-month period which saw the majority of its dealerships closed for more than 100 days due to COVID-19 restrictions.
Group 1 Automotive has reported a “solidly profitable” Q1 for its UK car dealerships, despite the impact of COVID-19 ‘Lockdown 3’ showroom closures.
AM100 motor retailer HR Owen is investing heavily in 2021 ready to win over more luxury car buyers, despite a heavy hit to its 2020 profits as coronavirus lockdowns took their toll.
Lookers has applied to recommence share trading on the London Stock Exchange following publication of interim financial results which revealed a £50 million loss in a COVID-impacted H1, 2020.
Donnelly Group has revealed a £2.66m pre-tax loss in its annual accounts for 2019 but stated that a rationalisation review of the car retail business had now liberated £8m in annual savings.
Caffyns recovered profitability this year despite its car showrooms being closed for 10 weeks. Underlying pre-tax profits have rocketed up by 830% year-on-year to £1.5 million.
Revenues dropped 20% in Cambria Automobiles’ latest financial year as the AM100 motor retailer endured “the most challenging period in its history” due to the COVID pandemic.
Auto Trader has reported a 37% decline in revenue and 48% dip in operating profit in a COVID-19 half-year trading update.
Clarks of Kidderminster has growth its turnover to over £100 million after growing its car retail portfolio with the addition of Citroen, Ford, Mazda and MG franchised sites in 2019.
Expansion of its used car supermarkets has helped Arnold Clark Automobiles drive profits and revenues up.
Pendragon has said that it “almost entirely” offset its losses from a COVID-19 impacted first half of the year with an eight-fold increase in underlying pre-tax profits in Q3.
Peoples Ford chairman Brian Gilda has said that he is “delighted” with the outcome of a 2019/2020 annual results period which included the took the full impact of COVID-19 lockdown.
When Snows Motor Group completed a restructure of its leadership team at the turn of the year its new leaders had no idea they would soon be called upon to fast-track a transformation of the business.
Citygate Automotive has completed the acquisition of Lookers’ West London Škoda dealership for an undisclosed sum.
Sytner Group has reported a 1% decline in revenues and 36.6% decline in pre-tax profits in its 2019 annual financial results.
Marshall Motor Holdings has reforecast its 2020 performance expectations after a “stunning” September of new and used cars sales – targeting a £15m underlying profit before tax.
