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5 people found this useful Industry consolidation has been seen as a threat for regional groups, but the raft of significant changes facing automotive retail will not diminish a place for the strongest players in the market. The next five years will see big shifts in the distribution model for many original equipment manufacturers (OEMs) as many look to cut costs and shrink networks to the best performers, ramp up in electric vehicle (EV) volumes and put even greater emphasis on omni-channel retailing. However, there was a consensus from the consultants AM spoke with, ICDP, ASE Global and UHY Hacker Young, that OEMs still very much want to work with regionals in the future. ....
Click the thumbs up > The Vertu Motors board has said that the AM100 car retail group is positioned to realise âambitious growth aspirationsâ after crediting a huge Vertu team effort for a creditable 2020 trading performance. In a trading update published by the PLC this morning (March 1) chief executive, Robert Forrester, revealed that the board expects its trading result for the year ended February 28, 2021, at an adjusted profit before tax level, to be âin-line with current analysts forecasts of around £23mâ. And the group, which operates Bristol Street Motors, Macklin Motors, Vertu Motors and Farnell retail divisions, also saw revenues rise by 4.1% during the period thanks, in part, to the addition of 29 new franchised outlets. ....
Vertu Motors is set to relocate its Kia Nottingham dealership into its existing Volkswagen dealership operation in the city as it continues to consolidate its UK retail operations. ....