8:41 am, January 5, 2026
Car dealer Wessex Garages has reported another year of losses for 2024/25 as the industry continues to battle difficult trading conditions.
Accounts recently filed via Companies House show that Wessex Garages Holdings Limited made a pre-tax loss of £1.46m in the 12 months ending March 31, 2025.
The figure is consistent with the previous year’s trading result, when the Bristol-based retailer returned a loss-before-tax of £1.47m.
According to the latest accounts, the firm saw a slight reduction in overheads throughout the year, but gains were wiped out by gross profit margin reducing from 7.0% to 6.7%.
Directors also said that the group had struggled with ‘a new car market heavily distorted by the fleet and Motability sectors’ as well as ‘adoption levels of electric vehicles in the marketplace’.
Increases in minimum wage and pension costs also hit the firm hard, as well as rising inflation, interest rates and general economic uncertainty.
Despite significant headwinds, there was good news for Wessex, with turnover rising from £259.95m to £270.89m – an increase of more than 4%.
Used car sales also rose from 3,258 units to 3,391, although new car transactions did decline slightly from 7,163 to 7,095.
Meanwhile, when it came to growing the business, the firm invested heavily in a major land purchase for a new flagship Kia dealership in Bristol.
At the end of the year, the group also agreed a deal for new leased premises for its Cardiff Hyundai business.
Reflecting on the period in the accounts, director Mark Pardoe said: ‘The company was not profitable in 2024/25 with a loss before tax of £1.46m.
‘Turnover rose by £10.93m to £271m on the back of increases in new car prices, and increase in unit volumes in New Motability and Fleet business.
‘New units were 7,095 in 2024/25 versus 7,163 in 2023/24 – a decrease of 0.9%. Used units were 3,391 in 2024/25 versus 3,258 in 2023/24 – an increase of 4.1%.’
He added: ‘Factors affecting the industry are well documented, but the company was unable to fully mitigate the key areas which impacted on its business during the year.
‘Namely, a new car market heavily distorted by the fleet and Motability sectors; adoption levels of electric vehicles in the marketplace; [an] increase in minimum wage and pension costs [and] increases in inflation, interest rates and the general economic uncertainty.’
Elsewhere, the accounts show that throughout the year, Wessex Garages’ workforce grew from an average of 318 to 323 employees.
Staffing costs also rose to £13.43m, with directors’ remuneration coming in at a reduced £174,595.
At the end of the year, no ordinary dividends were paid and the directors did not recommend the payment of a final dividend either.
