F&I Management & Training

Lookers, one of the UK's largest car dealership groups, has warned of a challenging year ahead for car sales. However, the company believes the diversity of its business, which also includes used car supermarkets and a parts business, will protect revenues. The company, which has 141 dealerships following its acquisition of the Dutton Forshaw business last year, reported pre-tax profits up 7% to £23.1 million for the 12 months to December 31 on turnover of £1.68 billion. While the motor industry is bracing itself for a decline in new car sales amid economic uncertainty, Lookers believes its parts business will help protect profits. This is because the company believes that car owners will spend more on maintaining their vehicles instead of replacing them with newer models.

DATED: 14.03.08

FEED: AW