financial results
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Manufacturer 1 FebVolvo says margin gap between ICE and BEV cars is closing
Volvo Cars reports that its gross profit margins on its electric cars increased fourfold during the second half of 2023, contributing to a record trading year for the company.
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Car Dealer News 30 JanMotorpoint warns profits could be £6m below expectations
The UK’s largest independent vehicle retailer Motorpoint Group expects 2024 profits to fall up to £6 million short following a significant drop in used prices.
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Supplier News 16 JanMotability profits dive due to falling used car values
Profits dropped significantly last year at the UK’s largest fleet owner – Motability Operations Group – in line with tumbling used car prices.
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Car Dealer News 17 NovLoss-making AM100 dealer groups double since 2021
After some consolidation or break-ups of a few major groups, the AM100 also has four new entrants this time. See the report for details.
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Car Dealer News 5 OctMotorpoint fights to stem losses, £1m cost of redundancies
Motorpoint has been cutting jobs, reducing stock purchase costs and halting its expansion plans as it fights to stem financial losses which the national car supermarket chain blames on difficult macroeconomic conditions.
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Car Dealer News 4 OctVertu Motors records £31.5m profit in H1 as its vehicle sales climb
Vertu Motors sold more than 95,000 new and used vehicles in the six months to August 31 2023 - an 11% uplift.
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Car Dealer News 27 SepProfits rise for Pendragon despite economy woes
Pendragon, the owner of the Stratstone, Evans Halshaw and Car Store brands, has delivered a positive set of trading results revealing pre-tax profits rising 10.6% to £36.4 million in the six months to June 30.
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Car Dealer News 30 AugVertu Motors remains upbeat despite EV, used car supply challenges
Greater choice in terms of new electric vehicles (EV) entering the marketplace is forcing carmakers to cut prices and offer cheaper finance, according to industry heavyweight Vertu Motors.
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Car Dealer News 22 AugLookers reports 8% revenue rise as takeover bid from Global Auto progresses
The AM100's third-largest car dealer group, Lookers, has revealed its first half 2023 trading secured 8% higher revenues year-on-year as it prepares for shareholders to decide whether to back a £504m takeover bid by Global Auto Holdings.
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Car Dealer News 18 AugProfits near £11m as car supermarket group Big Motoring World continues to grow
The used car supermarket chain Big Motoring World has driven annual income past its pre-pandemic levels, recording £10,953,122 pre-tax profit in its recently published accounts for 2022.
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Car Dealer News 11 AugOnline car dealer Cazoo still leaves investors awaiting share price growth
Investors in online car dealer Cazoo are still having to wait for share price growth despite its announcement this month that its gross profit on every car sold is almost four times higher than it was achieving during the first half of 2022.
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Car Dealer News 10 AugGross profit rose for Eastern Western despite car supply issues and revenue dip
The leadership team at Eastern Western Motor Group has praised its workforce for delivering a resilient financial result in 2022 despite economic issues and shortages of vehicle supply.
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Car Dealer News 14 Jun
Used car dealer Motorpoint reports £22m swing to loss-making in 2023
Car supermarket chain Motorpoint suffered a swing from £21.5m profits in its 2022 financial year to a £300,000 loss in its 2023 financial year, as it was hit by rising financing costs, stock shortages, depreciating electric vehicles and rising investment requirements.
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Car Dealer News 2 JunCar dealer group Caffyns reports 30% slump in profits
Caffyns, the AM car dealer group based in East Sussex, has blamed a 30% decline in profits on to inflation and higher business rates in its latest financial year.
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Car Dealer News 10 MayVertu Motors continues to scale as it breaks £4bn turnover
Vertu Motors’ continued strategy to scale the group has delivered £4bn in revenues for the first time as the business reported better than expected profits.
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Car Dealer News 3 MayWaylands Automotive posts 15% profit performance boost in 2022
Waylands Automotive has posted a 15% increase in profit before tax performance of £3.1 million on revenues that increased by 35.2% to £168.4m in 2022.
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Car Dealer News 27 AprCazoo restructure ‘starting to bear fruit’ in Q1 financial results
Used car retailer Cazoo reported a 690% year-on-year growth of gross profit per unit and overall gross profits up 367% to £14 million in Q1 as its CEO asserted that its sweeping restructure was starting to “bear fruit”.
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Car Dealer News 26 AprGroup 1 Automotive delivers record financial results in Q1
An acceleration of new vehicle, parts and service revenues has propelled Group 1 Automotive to a record set of Q1 financial results.
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Car Dealer News 24 AprSwansway Group on ‘strong financial footing’ after 2022 financial results
Swansway Group director Peter Smyth has asserted that the car retail business is on a “strong financial footing” after 2022 financial results revealed declining profits.
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Car Dealer News 19 AprPendragon’s ‘strong start’ to 2023 delivers 23% rise in pre-tax profits
Pendragon’s board expects the AM100 car retail PLC to “comfortably outperform” its previous expectations for 2023 after delivering a 23% rise in underlying pre-tax profits during Q1.
