9:03 am, August 6, 2025
Bosses at the family-run Sinclair Motor Group say they are ‘extremely proud’ of the firm’s performance last year, despite profits being slashed in half.
Accounts recently published via Companies House show that Sinclair Motor Holdings made a pre-tax profit of £4.38m in the 12 months to the end of December 2024.
The figure was an eyebrow-raising 48.3% down on the previous year, when the group bagged £8.47m, with directors pointing at external pressures, including the controversial ZEV mandate.
Despite the crosswinds, there were plenty of reasons to be cheerful for the Bridgend-based retailer, with turnover rising from £637.85m to £674.14m.
The group’s total equity also enjoyed a small rise, from £63.53m in 2023 to £66.71m in 2024.
Reflecting on the year, director Andrew Sinclair (pictured) said that the Car Dealer Top 100 firm had achieved a ‘very commendable result’ in the face of ‘unavoidable’ challenges.
Writing in the accounts, he said: ‘2024 represented a year of ongoing performance challenges for ourselves and the motor industry across the UK.
‘The industry issues, such as the used car realignment at the end of 2023, and the UK Government’s ZEV mandate pressure to achieve electric sales volumes in 2024, combined to have impacts on new and used car volumes and profits throughout 2024.
‘In addition to this, the wider economic challenges and uncertainty of both UK and US general elections, continually higher interest rates, high inflation and a new UK budget that placed increased costs and strain on UK businesses, all contributed to lower customer confidence and lower consumer spend.
‘The unavoidable result of these issues was a year where customers were increasingly uncertain, and all our businesses experienced a reduction in consumer visits, sales and ultimately profitability.
‘Nevertheless, the focus and commitment of our teams, drove us to a result significantly ahead of many within the industry.
‘Whilst our group profit result was somewhat down on the previous two years, it remained ahead of our pre-Covid profit levels, a result that as a board we are still extremely proud of.
‘Whilst many in the industry have seen 2024 represent a loss-making year, to maintain the profit levels that we achieved is a very commendable result.’
The year also saw Sinclair grow its workforce, with its average number of employees swelling to 835 from 764.
As a result, staffing costs also rose, with wages and salaries totalling £35.44m, compared to £33.25m the previous year.
The firm’s key management – a group comprising 12 individuals – were paid a combined £3,06m, slightly up on the £3.03m they received in 2023.
Elsewhere, directors’ remunerations came to £892,543 and no dividends were paid throughout the year.
Looking ahead, bosses are confident that profits will head in the right direction again next year, following a ‘testing’ period in 2024.
Sinclair added: ‘As a board we are extremely confident that 2025 will result in a return to increased profitability.
‘Our new car volumes will continue to grow, with an increase in profit per unit as manufacturers increase the support on electric cars to help consumers commit to purchase. Also, our used car stock is in a much better position entering 2025 which will have a dramatic result in increasing overall sales profitability.
‘In addition, the consistency of our service and parts performance will underpin our 2025 profit results.
‘Overall, whilst 2024 was a very testing year for the industry, we have come out of it in a very strong position and will see the benefit of this in the months ahead.’
Sinclair Motor Group currently operates 30 dealership sites across South Wales and Shropshire, representing Audi, BYD, Cupra, GWM, Hyundai, JLR, Mercedes, Seat, Skoda, VW and BYD.
The firm finished 36th in our most recent list of the UK’s 100 most profitable car dealers.
