Vertu Motors takes car dealerships ‘off grid’ to combat energy crisis in H2 – AM Online

Vertu Motors is taking its car dealerships “off grid” as part of efforts to combat the soaring cost of energy in the second half of 2022. The AM100 PLC revealed that, although it expects its full-year financial results to be in-line with expectations, they will be weighted to the first half of its economic year after rising energy costs and soaring inflation impacts profitability.

A trading update published via the London Stock Exchange this morning (September 6) revealed that the group faced the prospect of renegotiating its energy tariffs this month and was taking decisive action to mitigate against rises in excess of 250% seen by others in the sector. It said that its management was “very focused” on reduced energy usage as part of an energy purchasing strategy which includes “the sourcing of off-grid energy solutions in order to manage the Group's exposure to energy market price volatility risks”.

Away from the rising costs of doing business ushered in by current UK inflation of over 10%, Vertu’s trading update revealed that its operating expenses had increased year-on-year as a consequence of the removal of Government support for business rates, which reduced costs in H1 2021 by £5.2m.

Donnelly Group appoints Steven Hughes as JLR business manager – AM Online

Donnelly Group has appointed Stephen Hughes as business manager at its Jaguar Land Rover (JLR) dealership in Dungannon. Hughes said that he was "thrilled" to be promoted to his new position with the Northern Ireland car retail group which he has worked for since 2006.

His appointment follows Donnelly's recent appointment of Andy Duke as general manager of Donnelly Honda, in Dungannon.

Commenting on Hughes' new role, Donnelly managing director Dave Sheeran said: “We are pleased to appoint Stephen as our new business manager at Donnelly Group Jaguar Land Rover, bringing with him more than two decades of experience in the motor industry.

Group 1 Automotive completes Fairfield BMW acquisition – AM Online

Group 1 Automotive has completed the acquisition of Essex-based BMW and Mini franchised car retailer Fairfield Motor Group. Fairfield owner Mike Styles took to LinkedIn to share news of the transaction, which followed a “difficult decision to hang up my boots” following 34 years as owner.

The Leigh-on-Sea business includes a BMW dealership and neighbouring Mini business on the A127 Southend Arterial Road. Styles said that he believed Group 1, as a Fortune 500 company with an excellent record, will “take great care of my staff and Fairfield will go on to have a successful future”.