Economic Development Council (EDC) of St. Charles County’s Post

Given the recent round of results posted by a lot of motor retailers, the pace of change in used vehicle values last year was almost impossible to plan for, severely damaging profits in a difficult market. ------------------------------------------------------------------------- • Helping you achieve your dealership exit strategy goals. • Using my vast experience and extensive industry network to get the best price for your business, quickly, efficiently and confidentially. • Let’s talk today about maximising your property portfolio and realising your dreams. We can make it happen. DM me and let’s begin the journey together. #automotivedealerships #cardealerships #motorcycledealerships #roadsideproperty #alternativeuse

UK, Wales ■Turnover falls at Cardiff dealership March 11 2024, insider media, Ben Butler_ARI_wb ■A used car dealership in Cardiff has reported a fall in turnover, with pre-tax profit remaining flat in the latest trading year for the family-owned business. Jeff White Motors operates out of its premises near the Cardiff City stadium, selling used cars. It specialises in low mileage and typically one-owner vehicles. In the year to 31 May 2023, the business made a pre-tax profit of £1.2m on turnover, which fell from £27.8m to £24.6m.  According to a review of the accounts, the company is reliant on the car market and therefore, any changes to the level of activity are likely to affect results.  Director Jeff White said that, at the present time, the market is "highly competitive" in the UK and will remain this way in the "foreseeable future". He added that there are a number of risks that could harm the profitability of the business.  Jeff White Motors has approximately 500 cars at its Ninian Park Road site selling various brands. https://lnkd.in/e-uYrrwv

Haig Partners announces a groundbreaking start to 2024 in the latest Haig Report®. Q1 saw an unprecedented number of dealership transactions, with a record-breaking 151 dealerships bought or sold. This sets a new first-quarter high, showcasing a robust auto retail market, despite broader economic challenges. This surge in buy-sell activity reflects a dynamic market and underscores the enduring value of auto dealerships. Read more about these trends in the Haig Partners press release: https://ow.ly/vzMk50S1TmI #AutoRetail #DealershipSales #HaigReport #AutomotiveIndustry #autodealerships #dealership #cardealership

We look into why UK dealerships are proving such a sweet deal for auto groups in North America https://lnkd.in/eEAAVipS #cardealer #attraction #dealerships #usa David Kendrick

Six leading publicly traded new-car dealership groups have seen a significant surge in parts and service revenue. With a notable 5.3% increase in Q4 and a 7.7% rise throughout 2023, it’s clear that focusing on customer-pay, warranty, and internal works pays off. The key is not only in selling cars but also in nurturing ongoing relationships with your customers through excellent service. Extend those hours, make booking easy, and keep those mobile service trucks rolling. Don't forget to invest in your service techs - it brings real growth. Read more here: #AutoDealerships #PartsAndService  

F&I gross profit per vehicle down for 4 of 6 publics in Q4: Same-store finance and insurance gross profit per car sold fell at four of the top six franchised auto dealership groups in the fourth quarter compared with a year earlier. AutoNation was the only major new-vehicle public retailer to grow F&I profit per vehicle retailed in full-year results. #cars #auto #car

UK Car dealer Wessex Garages ‘unable to fully mitigate key areas’ as profits slump in 2023 Wessex Garages publishes annual accounts for year ending March 2023 Documents show profits fell from £4.08m to £2.03m as firm battled tough market dynamics Bosses point finger at high inflation and rising cost base January 9, 2024 Jack Williams Bosses at Wessex Garages say the firm was ‘unable to fully mitigate the key areas which impacted on its business’ as the dealer group saw its profits tumble last year. Accounts published via Companies House last week show that the firm made a pre-tax profit of £2.03m in the 2023 financial year – well down on the £4.08m it made in 2022. That is despite the documents revealing that in the 12 months to the end of March 2023, the firm actually saw its turnover rise from £188.98m to £223.14m. Directors pointed to a number of difficulties experienced throughout the year including ‘the continued decline of diesel sales’ and ‘subsequent lack of supply of alternatively fuelled vehicles. The accounts also cover the period of Liz Truss’s disastrous ‘Mini Budget’ of September 2022, which saw interest rates go through the roof, as well as the escalation of the Ukraine War. Partly as a result, the Car Dealer Top 100 outfit says its year was negatively impacted by an ‘increase in inflation, interest rates and general economic uncertainty’. Bosses also pointed to an increase in minimum wage and pension costs as a reason behind the company’s falling profits. Overall, the firm paid staff £12.56m compared to £11.45m in 2022. When it came to income, the sale of goods brought in £212.23m and the rendering of services £10.9m. The firm saw new car sales rise 14.5% to 5,966 from 5,210 but used car sales declined 8.7% from 3,806 to 3,475. increases.’s://https://lnkd.in/ev3swhmc #automotive #retail #dealership

The SMMT July sales figures show that not many more than a third of new cars sold are now going to retail buyers. In some respects, it’s not a problem, with many consumers probably just moving to nearly-new, but it does mean that we are increasingly seeing a long-term stock supply skewed towards the preferences of company buyers, which often means too many larger and more luxurious EVs. https://ow.ly/rjLZ50SVyV3 #Startlinemotorfinance #motorfinance #dealers #dealership #autoretail #motorindustry

CWB now offers specialized support to auto dealers. Check out our latest blog post to learn more about how CWB is helping dealerships thrive in the competitive automotive industry. #AutoDealers