Arnold Clark drives up turnover to record levels

Car dealership giant Arnold Clark Automobiles has reported record turnover for last year amid 'exceptional' acceleration in the sale of used vehicles.

Arnold Clark saw used car sales motor ahead by almost 11%. Picture: Contributed

The group said used car sales rose by 10.8 per cent to more than 175,500 units, buoyed by the opening of news sites and bringing total sales to £3.35 billion.

Pre-tax profit rose 2.2 per cent to £110.3 million, although new vehicle sales fell 8.4 per cent to 83,813 units, “largely a result of a large fleet contract that was not renewed due to the significant amount of working capital tied up in the agreement”.

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Additionally, the Glasgow-based dealership said its vehicle-management and daily rental business, Arnold Clark Finance, increased turnover by 10.7 per cent to £559.2m.

Group chairman Sir Arnold Clark said: “In 2016 we expect that the new car market will remain relatively static, with used cars experiencing similar growth to 2015.”