Strong used car market sees Harwoods profits surge 265% to £9.4m

Major end dealer Harwoods turned in a strong functionality in the 12 months to 31 December 2021.

The team, which holds the franchises for Aston Martin, Audi, Bentley, jaguar, Land Rover, McLaren and Volvo, observed pre-tax revenue rocket 265% to £9.4m on turnover forward 17.6% to £581.2m.

The privately owned team based on the south coastline of England claimed the yr was challenging 1 from an operational place of view, impacted by the quickly closure of showrooms and supply shortages in the new auto industry brought on by the semi-conductor lack.

“Despite thee problems the marketplace and the team benefited from extremely potent employed vehicle sector which observed made use of automobile selling prices raise in the course of the year.

Throughout the year it greater its stock holdings of made use of autos to offset the unfavorable new car industry.

“The principal technique continues to be one particular of securing and developing initial course web-sites from which to run our organizations for the in close proximity to upcoming.

Durin the year the group was appointed to signify Volvo in Crawley and also extended aftersales illustration into Croydon. It also invested closely in Audi at a person web site.

All through the 12 months it done a evaluation of technician fork out and released far more clear shell out designs.

The team has appointed an electricity consultancy business to assistance it minimize its environment effect.