July 1, 2022

excel-Auto

Matchless Automotive

Strong used car market sees Harwoods profits surge 265% to £9.4m

Best end vendor Harwoods turned in a robust performance in the 12 months to 31 December 2021.

The team, which retains the franchises for Aston Martin, Audi, Bentley, jaguar, Land Rover, McLaren and Volvo, saw pre-tax gains rocket 265% to £9.4m on turnover in advance 17.6% to £581.2m.

The privately owned team centered on the south coastline of England explained the calendar year was tough a single from an operational level of perspective, impacted by the temporarily closure of showrooms and source shortages in the new automobile market place brought about by the semi-conductor shortage.

“Despite thee issues the business and the team benefited from extremely sturdy applied car sector which observed made use of auto costs enhance through the calendar year.

During the calendar year it elevated its inventory holdings of used cars to offset the destructive new car current market.

“The main system carries on to be a person of securing and building first class websites from which to operate our firms for the in the vicinity of long run.

Durin the year the group was appointed to depict Volvo in Crawley and also extended aftersales representation into Croydon. It also invested greatly in Audi at just one web-site.

For the duration of the calendar year it carried out a assessment of technician fork out and introduced much more clear pay back ideas.

The group has appointed an vitality consultancy agency to help it minimize its atmosphere impact.