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Vertu Motors, owners of the Bristol Street and Macklin dealerships, has made its first foray into premium brands with the acquisition of Farnell from Co-Operative Group Motors. The company has paid around £31m for the business which includes three Land Rover dealerships.
Retailers made, on average, £60,000 profit from the crucial March sales month. That's a healthy £15,000 improvement over the equivalent period last year and continues the upward turn of dealer margin on sales, which now stands at 1.25% on a rolling 12-monthly basis.
Lookers has bought Shields Automotive, which runs a large Land Rover dealership in south Glasgow, from Joe O’Donnell, the sole owner of the business. The move is likely to mean the end of the Shields trading name which, at one time, was one of the largest auto retail groups in the city.
Industry trade association, NFDA, has taken a majority stake in Trusted Dealers, the online classified site.
Auto Retail Network understands that the original investors in Trusted Dealers voted at an Extraordinary General Meeting on Tuesday to ‘gift’ shares in the business to NFDA at no cost.
Much attention has been focused on the potential for Chinese brands in the European car market. But, if you really want to know where the Chinese are already having an impact, take a look at aftersales.