Franchised dealer leaders gathered in London’s Mayfair this week for the AM100, the annual listing of the UK’s largest motor retailers.
In front of around 350 dealer, manufacturer and supplier executives, AM editor Tim Rose revealed that Sytner Group has now achieved the distinction of generating higher profits than any other dealer group. This adds to the accolade it gained at last year’s AM100 of becoming the UK’s number one car dealer by turnover.
Looking at the AM100 as a whole, AM’s analysis has detected a decline in profitability – compared to the previous year there were half the number of groups achieving 2% or higher return on sales. Yet despite the decrease in 2017’s new car market, the AM100 has turned in a new record for total turnover, passing £67bn.
Tim Rose said: “I can now reveal that the 2018 AM100 now accounts for almost two in every three franchised dealerships across the UK. And a combined workforce of 127,000 people are reliant on its abilities to sell cars and services profitably.”
After dinner, guests were entertained by anecdotes from former Work and Pensions Secretary, the Right Honourable Alan Johnson, who also shared his optimism for a soft Brexit.
Full analysis of the 2018 AM100 is included with the new issue of AM magazine, out on June 22nd.