Car sales boost revives Lookers fortunes

Thu, 11 Mar 2010



Car company Lookers experienced strong pretax profits due to strong car sales and motor parts sales. The car dealership reported pretax profit of £11.5 million, way up on their loss of £14.9 million last year.

The sale of new cars were up 13%, ahead of a market that declined by 6 per cent. The car parts business was boosted by customers looking to repair their used cars rather than purchase a new one.

The upswing for Lookers doesn’t change the fact that the car sales and car finance industry is likely to face a very difficult 2010. With increasing availability of personal loans, many dealer may find vehicle finance competition increasing.
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