Arnold Clark will push forward with plans for 4 new used automotive remarketing centres in 2023, regardless of power from the inventory shortages impacting the field.
Leader government Eddie Hawthorne informed AM previous this yr that the AM100’s second-placed automotive retail crew via turnover deliberate to develop an auctions trade after finishing the purchase of Glasgow’s Central Automotive Auctions trade.
And the goal to develop the trade, which might remarket one of the vital automobiles bought via its Promote My Automotive on-line automotive purchasing platform as a part of its providing, stays regardless of sharing the field’s rising struggles to obtain inventory.
“The plan stays the similar,” Hawthorne informed AM as of late (November 22). “We’re most definitely going to open 4 new websites in 2023, in line with the central style.
“With regards to the plan for the trade there’s a combat to get provide – as there may be in the entire sector – however with used automotive values final buoyant, it’s nonetheless a in point of fact excellent alternative for us.”
In Would possibly Hawthorne has reported an “very good” 2021 monetary efficiency with revenues up 25% to £4.7 billion (2020: £3.8bn) as benefit prior to tax rose 68% to £263 million (2020: £156.5m).
Hawthorne informed AM that Arnold Clark was once having a look on-track to ship its second-best monetary yr ever, regardless of the marketplace headwinds of lowered inventory, hovering power costs and inflation in double figures.
“Similar to everybody else we had an out of this world yr final yr,” he stated. “This yr might be somewhat bit at the back of, however it’s going to nonetheless most definitely be the second one very best we’ve ever had and that may in large part be right down to finance source of revenue and overheads.”
Previous this yr Arnold Clark introduced its go out from the Toyota and Ford franchises.
On the time Hawthorne asserted that “no jobs might be misplaced” as Ford licensed aftersales, Motorstore used automotive retail or new franchises have been moved into the six Toyota dealerships and 20 Ford websites suffering from the adjustments.
Chatting with AM as of late he stated that the operation have been performed easily, making sure the companies to “didn’t omit a beat”.