Johnsons reports lower manufacturer targets
28 May 2018
Retail group Johnsons Cars has reported a reduction in certain manufacturers’ volume targets.
Filing its 2017 accounts, the group said that from the start of this year: “Manufacturer volume targets have been met naturally with a much lower level of transacted registrations needed in a couple of franchises to hit Q1 targets.”
It added that weaker sterling had affecting national sales companies importing vehicles: “A lower pound after the referendum has reduced importing manufacturers’ ability to support the new car sales with customer and dealer incentives.”
The Midlands based group saw turnover rise 12% from £321 million in 2016 to £360m last year, with profit before tax at £1.5m. This was helped by a strong fleet performance and the acquisition of both the James A. Lawrie Skoda business in Liverpool and Chambers of Sutton, which brought the Ford brand into the group for the first time and added Hyundai and Mazda.
The group is to continue its policy of expansion.