despite difficult market
Continued expansion and “double digit growth” despite market
pressures was the message given by Vertu Motors plc’s chief
executive, Robert Forrester, to attendees of the AGM in July.
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Difficulties were acknowledged: despite volume growth in used
sales, Forrester cited “declines in residual values and the overall
consumer environment” as softening margins.
Impact of exchange rates on manufacturers, as well as “the
availability and pricing of consumer finance and the general weak
consumer environment” were flagged as the main challenges
ahead.
However, problems in the used market were counteracted by other
successes.
Strong aftersales was stressed as an ongoing growth source, as was
performance in the new car market: manufacturer targets for June
had been met “without recourse to pre-registration activity”, said
Forrester, “and as a result significant volume bonuses were
earned.”
Forrester pointed out that in representing major volume
manufacturers, Vertu had a product range wide enough to soften “the
impact of current weaker demand for less fuel efficient, higher
value vehicles.”
