Data for Group 1 Automotive UK reveals the steadily-growing AM100 dealer group is making great profits from its sales of brand-new and previously owned automobiles.
Numbers it published today reveal its ordinary gross revenue per unit from the first 9 months of 2022 rose 42% in new lorry sales, to $3,633 (approx. ₤ 3,149), while in used cars it dropped 11.3% to $1,653 -LRB-xx-RRB- versus Q1-3 2021.
In Q3 2022 alone, its GPU in new lorries of $3,464 (₤ 2,995) was six times higher than that reported by on-line vehicle supplier Cazoo on Thursday, and also its used GPU of $1,507 (₤ 1,303) was triple that of Cazoo’s.
This year, by September 30, Group 1 Auto UK had actually raised its brand-new retail sales volume by 2.8% to 21,922 devices while its volume of made use of automobile retail sales climbed up by 7.4% to 30,505.
The average list prices has actually likewise risen, by 0.4% in brand-new and also by 2.9% in used.
In the 9 month period UK profits have actually increased 7% to $2.14 billion (₤ 1.85 bn) – about one sixth of US-based Group 1’s $12.15 bn worldwide incomes – and also overall gross earnings got to $289.2 m (₤ 250m)
Announcing the global results for Q3 and the year to day, chief executive Earl Hesterberg disclosed total Q3 profits were a brand-new record for the company, at $4.2 bn, which was a 22% increase on Q3 2021.
“Our team supplied one more record quarter including substantial income and revenue development,” claimed Hesterberg, that tips down from the chief executive role at the end of this year.
“Our combined automobile as well as aftersales earnings development for the quarter was well over 20% and also our combined aftersales gross revenue development exceeded 25%.”
Team 1’s UK network of dealers broadened lately with the requisition of a BMW dealership in Southend.
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