Derby car dealer sees sales motor
A COMPANY which owns several car dealerships in Derby has said it expects its annual results to be better than expected.
In a trading statement issued this morning, Vertu Motors Group, whose Derby dealerships include Bristol Street Motors, in Locomotive Way, Pride Park, said that its performance picked up during the five months to January 31.
The firm said it had seen a recovery in the UK new car market, with sales up 13.6%, compared to the same period 12 months ago.
It said: “Manufacturers faced with dire market conditions in the eurozone have taken advantage of the relatively benign UK consumer environment and a stronger level of sterling versus the euro.”
Vertu said it had been busy investing in its Derby sites.
It said: “In September, the group acquired a 5.8 acre site in Derby from the Co-operative Motor Group as part of a wider transaction.
“The site incorporates a number of separate sales outlets and significant investment has been made to date in refurbishing the existing Nissan and Fiat franchise operations.
“In addition, last month a Renault/Dacia sales outlet opened at the location and in mid-March the group’s first Volvo franchise will commence operations.
“The latter will be branded Volvo Cars Derby and will open in a fully refurbished dealership.
“This will complete an intensive period of capital investment in what is now the single biggest location operated by the group.”
The group will announce its preliminary results on May 15.