...22 May 2009 23:52
The fallen, why are you suprised Inch and Lookers are doing well ? You have the biggest hitter in the industry in Inch, with very sound management, a decent spread worldwide, the biggest profit when the market returns and steady results right now given the marketplace. You also have lookers, looker, again, decent strong management, tony bramall onboard, their should be no suprise both these companies are holding up pretty decently.
People also are overlooking Vertu, a hell of a lot of ex-bramall come PDG people left to go their, as did alot of ex Reg Vardy peeps.
With that said, the dealership groups will be probably the second of the sectors to bump up in the recovery that comes. Laidback is very well placed here, seems to be the only one that actually posts something that resembles sense !
I have to ask however, if a used car op is up by 5000%, who on earth set the budget , because frankly, with a result like that, it suggests a very soft business plan as opposed to "fantastic results"
Again, used cars continue to be strong, margins are decent, upsells are decent. However, book value for PX continue to be strong, auction values continue to be strong, whilist PDG try to be the cheapest through their UCM process, when I see a figure of 5000% improvement, it would suggest that someones budget has been set rather favourably !