CAMBRIA Automobiles suffered a 9.4 per cent drop in new vehicle sales for the first three months of its current financial year, according to a trading update issued today.
It said its performance was in line with the board’s expectations, with the decline offset by what it hailed as ‘a significantly improved gross profit per unit performance, reflecting the change in mix towards the high luxury segment’.
The update relates to September to November 2019 when, in contrast, used car sales increased by two per cent year on year and aftersales revenue rose by 1.9 per cent.
Looking ahead, the board said it was still ‘cautious about the general uncertainty in the economy and around the consumer environment while the ramifications of leaving the EU are worked through’.
Cambria was formed in 2006, with its franchised brands now comprising the Dove Group, Grange, Dees Group, Invicta Motors, Motor Park and Pure Triumph. Its annual meeting was taking place today.