F&I Management & Training

Britain's largest car dealership group, Pendragon, is to focus on selling cheaper and older cars this year as the economic downturn hits consumers. The move has been revealed on the back of financial results for 2007, which were announced on Wednesday (February 20) and revealed a halving of pre-tax profits to £34.8 million, despite revenues remaining flat at £5.1 billion. The company will now focus on cars that could be as much as 10 years old and sell for £3,000. The company, which in recent years has swallowed up rival dealer groups Reg Vardy and CD Bramall, will also curb its aggressive expansion.

DATED: 25.02.08

FEED: AW