East Anglia: Sales under pressure at motor dealer Lookers
MOTOR dealership chain Lookers has reported a 10% fall in new car sales to private buyers amid plunging levels of consumer confidence.
Lookers, which operates 119 dealerships including more than a dozen in north essex and south Suffolk, said overall new car sales were up 2% overall but this was fuelled by a 30% increase in fleet sales between July 1 and October 27.
The company said used car sales were slightly higher than last year, while after-sales revenues were flat. It described trade overall as “satisfactory” in view of the tough conditions in the wider motor market, in which total new car sales were down an estimated 5% during the period.
“The new and used car markets continue to be affected by uncertain economic conditions and the impact this has on consumer confidence,” Lookers said.
And it added that used-car margins had also been hit by weaker consumer demand and were slightly lower than last year.
However, the company said it still expected results for the financial year to December 31 to be in line with management expections
Lookers dealerships include Ford, Renault, Land Rover, Volvo and Kia franchises in Colchester.
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It also has Ford dealerships in Sudbury, Clacton, Braintree, Witham and Chelmsford, with its operations in Chelmsford also including the Renault, Land Rover and Toyota marques.