Lookers loses sales in new and used cars
Published Date:
28 August 2008
Car dealership group Lookers yesterday revealed a drop in both new and used car sales this year after the economic slowdown put off buyers.
The Manchester-based firm said like-for-like new and used car sales were down 6.5 per cent and five per cent respectively during the first half of 2008 – with trade deteriorating in May and June.
The performance contributed to a 28 per cent fall in the firm's pre-tax profits to £13m during the period.
Lookers also said trading remained challenging since June 30, with no imminent improvement expected. Buyers were switching to cheaper and more fuel-efficient vehicles. However, the performance at its used car supermarkets arm was better so far this year. It lost £4.2m during 2007 but traded profitably during the first half this year, the group said.
The full article contains 146 words and appears in n/a newspaper.
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Last Updated:
28 August 2008 8:13 AM
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Source:
n/a
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Location:
Yorkshire
