Inchcape forecasts 25% rise in 2022 pre-tax profits after Russia exit – AM Online
Inchcape has forecast a 25% rise in pre-tax profits in 2022 despite its withdrawal from Russia’s car retail sector and a vow that it has “no intention to re-enter the market”.
Strong margins amid faltering vehicle supplies boosted the fortunes of the AM100 PLC’s retail operation during the three-month period to March 31, a trading update published this morning (April 28) revealed, while it grew its distribution focus through new contracts with Porsche and Volvo. Group revenues rose 13% on an organic period in Q1, with retail up 18%, according to the statement. [...]
Marshall ranks in Great Place to Work UK list for eighth consecutive year – Motor Trader
Marshall has announced that it has ranked 11th in the Super Large category (organisations with 1000+ employees) in the annual Best Workplaces ranking presented by Great Place to Work UK.
The awards recognise the UK’s best companies and their strength of leadership and range of innovative, creative and effective HR policies which create a leading workplace culture.
This is the eighth consecutive year the Company has been ranked as one of the UK’s Best Workplace. [...]
Pendragon quick off the blocks in Q1 with profits up 73% to £18.7m – Motor Trader
Pendragon got off to a good start in Q1 with underlying profit before tax up 73.1% to £18.7m. The group looked to increase margins on new cars in the face of supply restrictions and saw gross profit per unit rise 66% to £2,456.
Used vehicles volumes were down 6.7% on a like-for-like basis as supply constraints from lower new car production since 2020 impacted on availability. Gross profit per unit fell from the heights of H2 last year but Q1 GPU was still up 61.4% to £1,767 compared to Q1 2021. The group saw a 9.6% increase in like-for-like aftersales gross profit while its software business Pinewood delivered an operating profit of £2.8m (Q1 FY21: £3.4m). [...]
Vertu Motors invests £2m in Dunfermline multi-franchise dealership – AM Online
Vertu Motors has invested £2 million to create a new multi-franchise Macklin Motors car dealership in Dunfermline.
Renault, Dacia and Hyundai have been added to the existing Vauxhall and Ford authorised repairer site, with separate sales areas for Renault, Dacia, Hyundai and Vauxhall. [...]
How Robert Forrester's instinct made a jobless guy into a manager – AM Online
James Collingwood was offered a job at Bristol Street Motors by chief executive Robert Forrester following a TV appearance 10 years ago, and is now a senior manager at one of its dealerships in Sunderland.
In 2012, Collingwood aged 23, had been unemployed since leaving college before appearing in a live BBC TV discussion about the Budget announcement, hosted by Victoria Derbyshire in the Northeast. [...]
Pendragon sponsors Power Maxed Racing in BTCC – Motor Trader
Pendragon has struck a sponsorship deal with Power Maxed Racing in the British Touring Car Championship (BTCC).
The new five-year deal sees CarStore and Evans Halshaw brands featured on car and driver branding, hospitality and onsite branding. [...]
TrustFord strenghtens partnership with Huddersfield Giants Trust – Motor Trader
TrustFord has partnered with Huddersfield Giants Community Trust to provide a Ford Transit 17-Seat Minibus to be used by the Trust for its work with the teams and in the wider community. [...]
Vertu donates Mercedes eVito van to homeless people’s charity – Motor Trader
Vertu Mercedes-Benz has provided a Mercedes eVito van to help keep the charity NishkamSWAT on the road. The organisation serves up to 5,000 meals a week across 22 locations in and around London and the South of England. [...]
