Thursday, May 21, 2009
Vertu boss warns dealers to adapt to downturn
The warning was addressed to leading dealer finance managers at the recent Finance Conference co-hosted by Motor Trader and ASE, the business management specialist.
As the chief executive of Vertu Motors, a listed group which sold its first car on 27 March 2007 and now has a turnover of £750m, Robert Forrester had some sound advice on how to not just whether the storm but identify growth opportunities.
Having launched as an acquisitive group the business reviewed its business model last year to reflect the changing economic climate.
Forrester's team launched a four step programme which he said has placed the business on a sound footing. Areas addressed included cost reductions, a thorough review of the stock policy, a transformation of under-performing sites and encouraging momentum through people and processes.
"We're not at the bottom of this thing yet. You might see 25 per cent fewer customers so you need to sell 25 per cent more cars.
"There are still hundreds of thousands of people thinking of buying cars. I just want to make sure they buy from us," he said.
DATED: 21.05.09
FEED: MT
