Profit for Pendragon despite lockdown
Car dealerships group Pendragon has reported a profit for the first three months of this year despite the lockdown.
Pendragon has Evans Halshaw dealerships in Shrewsbury, Stourbridge, Walsall, Worfield and Wolverhampton, and also a Stratstone site in Wolverhampton.
It made an underlying pre-tax profit of £10.8 million which compared to a loss of £2.3m in the first quarter of 2020.
Pendragon said it was a strong performance given the Covid-related restrictions in place. All of the Group's dealerships were closed throughout the period and reopened on April 12.
The development of the group's digital capabilities enabled more than 40,000 vehicles to be sold.
Franchised UK new vehicle volumes were down 8.4 per cent on a like-for-like basis in the three months, but that was ahead of the overall market which was down 12 per cent.
Group used vehicle volume sales were down 14.2 per cent on a like-for-like basis.
Aftersales facilities remained open during the quarter and delivered a good performance, with like-for-like revenue down just two per cent.
Chief executive Bill Berman said; "We have delivered a strong performance in the first quarter, demonstrating the benefits of our omni-channel offering. Building on the progress made in 2020, our online capabilities continue to gain momentum as we advance our strategy and this has contributed to a resilient sales performance in the period.
"I am particularly proud of how our associates have responded to the changing environment, displaying their commitment to deliver a high-quality customer experience despite the difficult environment. With the easing of Covid-19 restrictions and the reopening of non-essential retail last week, we are delighted to be welcoming back customers to our dealerships and we are well positioned for the important trading period we have ahead of us."
