New car sales and growing confidence boost trading at dealer Vertu Motors

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Fast growing car dealer Vertu Motors said its annual results will be ahead of market expectations following strong growth in new car sales.

The group said its growth was down to strong market conditions and successful acquisitions.
Earlier this month it bought in two sales outlets in Sheffield from Harratts of Wakefield for £2.4m and it is on the hunt for more acquisitions in the area.

The new outlets brought the total number of Vertu sites in Yorkshire to 12.
In the year to February 28,
Vertu said that like-for-like new car sales grew by 21.5 per cent in the five months to the end of January, well ahead of UK market growth of 14.8 per cent.

Like-for-like new fleet and commercial vehicle sales grew by 23.2 per cent while like-for-like used cars sales rose by 11.1 per cent.

The group said it has successfully integrated the Albert Farnell Land Rover business it bought last June and the group won Land Rover Dealer Group of the Year in 2013. Farnell Land Rover Leeds won the accolade of Dealership of the Year.
Farnell has sites in Leeds, Bradford and Guiseley.

Overall, including recent acquisitions, new car sales rose 41.6 per cent during the five-month period and Vertu said it has taken significant market share. The company said the outlook for the UK new car market remains positive.

Yorkshire Post Innovation Network..Pictured from the left are Dr Abdulrahman Altahhan, Greg Wright, Stuart Sherman, Chris Atkinson and Jamie Morgan..21st March 2018 ..Picture by Simon Hulme

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