Car retailers Inchcape and Pendragon have both reported strong revenue growths across their dealer networks according to their third-quarter reports.
Inchcape, whose dealer network spans 26 countries, have reported a 7% increase in revenue for the third quarter of 2013.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The retail group took £1.63bn in the three months to the end of September.
The UK was the strongest area of growth, up 13.4% over the three months, and helped, the retailer claimed, by its strong portfolio of brands and a recovering UK economy.
In continental Europe the business performed well according to the report, aided by a reduction in costs and the introduction of new products.
In constant currency terms the firm’s North Asian business performed well partly based upon its Hong Kong warranty business. The region saw 7.1% in growth.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataInchcape did not announce profits for the third quarter.
New over used at Pendragon
Pendragon, the UK and California-based retail group, also marked strong growth in revenues for the third quarter.
Its used car unit saw an increase in sales of 9.7% for the three months to the end of September and a year-to-September rise of 8.9%.
The retailer, however, saw a stronger rise in its new car sales. These were up 16% in the first nine months of 2013 with a 19% rise in the third quarter.
For the full year to the end of 2012 Pendragon, which includes Stratstone and Evans Halshaw, had gross profits of £36.4m.
Like Inchcape, Pendragon did not report their profits for the third quarter.
