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Scottish motor dealer posts record profits

Category: Scotland Success Stories — Gary Cain on October 10, 2013

A family-owned car dealership in Glasgow has seen record turnover and soaring profits in the last year, with sales volumes increasing substantially.

The news from Arnold Clark Automobiles comes on the back of a number of acquisitions through the year.

The firm announced a record turnover of nearly £2.5 billion in 2012. Sales in Scotland and across the UK contributed to the total, which represented a profit rise of nearly £10 million from £51.7 million to £60.5 million.

The results come thanks to a total new vehicle sales book of just under 80,000; a 10.3 per cent increase compared to 2011. The sales of used vehicles were also up to 122,400; an increase of 4.6 per cent. Fleet sales rose by 11.5 per cent too, with a number of major contracts being signed by the company.

Taking advantage of the market conditions, Arnold Clark managed to acquire a further 34 franchised outlets nationwide.

With many firms facing financial issues, acquisitions and mergers have been steadily increasing since the recession.

A large number of businesses have funded their moves with the help of invoice discounting, whilst others have stayed clear of takeovers thanks to help from factoring brokers in Scotland.

While all of the acquisitions have helped to boost sales for Arnold Clark, the firm has said that purchasing the John R Weir business has been the most significant deal.

The deal has allowed the firm to add the Chrysler, Jeep and Kia brands to its range, and increase its exposure to the lucrative Mercedes market.

'Disclaimer: The information contained in these articles is of a general nature and no assurance of accuracy can be given. It is not a substitute for specific professional advice in your own circumstances. No action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a consequence of the material can be accepted by the authors or the firm.

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