F&I Management & Training

In the wake of Inchcape's profit warning last week share prices have plummeted across the car retail sector.

Inchcape's share price nosedived 38 per cent last week after the dealer group confirmed 2009 earnings would be below forecast.

Its stock market value fell to 78 pence - the lowest level in seven years.

Pendragon shares dropped 6.3 per cent to 5.62 pence - a new 12-month low which surpassed the previous record of 7.5 pence.

The latest decline means that so far this year the giant dealer group's stock has plummeted by 84per cent.

Lookers' shares also fell sharply to a five-year low, dropping 12 per cent to 30 pence.

The fall prompted the dealer group to announce it would now focus on growing its parts business.

Elsewhere, Caffyns saw its stock market value fall to a yearly low of 440 pence and it was the same scenario for Vertu Motors, which has a current share price of 17.5 pence.

DATED: 21.10.08

FEED: MT