Motor dealer Vertu, which trades as Macklin Motors in Scotland, today said that recent trading has been ahead of expectations as it predicted continued growth in the new car market.
The firm said like-for-like retail volumes of new cars rose 18.6 per cent during the four months to the end of June, ahead of growth of 16.6 per cent in the overall market.
Gateshead-based Vertu, which earlier this year bought the Co-operative Group’s Land Rover franchise in West Yorkshire for £31 million in cash, also said used car sales were up 4.7 per cent on a year earlier.
In a trading update ahead of the group’s annual meeting, chairman Paul Williams said: “The outlook for the new car market remains favourable with continued growth anticipated in the private market.
“The used car market remains stable, and the continued pursuit of the group’s strategies to improve customer service and retention in aftersales should ensure that the opportunities to grow in this area are realised.”