7:00 am, September 5, 2025
Car dealer Howard Garages has bucked wider industry trends to post improved profits for 2024.
Accounts recently filed via Companies House show that the Somerset-based franchised group made a profit before tax of £4.38m in the 12 months ending December 31, 2024.
The figure represents a small increase on the £4.35m the firm pocketed in 2023, despite the vast majority of dealer groups reporting tumbling profits for the period.
As well as the increased profit, turnover was also up for the retailer, with revenue shooting up from £198.76m to £215.9m.
The results were supported by improved volumes in both new and used car sales, with bosses toasting ‘another successful year for the group’.
Throughout the year, Howard Garages sold a total of 3,631 new cars, compared to 3,373 in 2023. At the same time, used car sales rose to 6,461 units from 5,378.
Meanwhile, the firm invested heavily to refurbish its Kia showrooms in Taunton and Weston Super Mare, as well as its Citroen Weston Super Mare and Suzuki Taunton sites.
The group ended the year representing Hyundai and Peugeot at four showrooms each, as well as Citroen at three and Kia, Suzuki and Vauxhall ar two.
It also has franchise agreements with Honda, Nissan, Toyota and DS at one site apiece, having ended its previous agreement with MG during May 2024.
Reflecting on the year’s performance, director Christopher Lee said: ‘In terms of volume, our new vehicle sales number was up 7.6% as compared to the overall UK new car market increase of 2.6% in 2024.
‘Overall our trading results continue to compare favourably with other motor trade dealerships groups of our size. 2024 has proved to be another successful year for the group, as shown by the financial result detailed in the statement of comprehensive income.
‘One of our key performance indicators is customer satisfaction. The group measures this by using a third-party to collate customer reviews from various online platforms.
‘During the year, the group made the difficult decision not to renew the three MG franchises, which ended in May 2024. We were, however, delighted to increase our number of Stellantis franchises, bringing both Citroen and Vauxhall to Yeovil.’
In the period covered by the accounts, ordinary dividends were paid amounting to £3m but the directors did not recommend payment of any further dividend.
Meanwhile, the company’s workforce grew to an average of 298, with employee costs totalling £14.4m, compared to £12.83m in 2023. Directors’ remuneration also rose from £845,047 to £869,444.
