11:07 am, September 3, 2025
Endeavour Automotive saw turnover and pre-tax profit tumble last year due to relocation of businesses and agency sales.
Latest accounts filed at Companies House show the Hertfordshire-based, Car Dealer Top 100-ranked business suffered a 13.5% drop in turnover in 2024 compared to 2023, down from £269.26m to £238.14m.
Directors acknowledged the drop in revenue reflected the first full year of Volvo operating an agency, or ‘direct to consumer’, sales process.
Relocating certain businesses during the year was thought to have an impact on profitability, too, said the accompanying report. Pre-tax profit plummeted from 2023’s £3.18m to just £255,816.
Endeavour moved its Watford Hyundai business to a new corner of the city, while it welcomed Chinese brands Omoda and Jaecoo to its other Watford site.
NEBDITDA (Normalised Earnings Before Interest, Tax, Depreciation and Amortisation) came to £6.14m, down from the £7.08m of the year before, but directors hailed this as a success that showed the ‘strength of the underlying business’.
Meanwhile, return on sales fell from 2023’s 0.8% to 0.1%, although gross margin climbed from 12.4% to 14.0%.
New car deliveries increased by 12%, while aftersales increased its mix of the business’s gross profit from 42% to 44%.
Directors did note Lotus’s switch from agency to wholesale led to a 375% increase in consignment stock from 2023. They said: ‘This occurred late in the year, and we expect to see the impact flow through to turnover across 2025.’
Overall, directors felt 2024 ‘presented more of a challenge for the group’.
Looking ahead, the report said: ‘During 2025 the group ended its representation with Ineos Automotive, whilst looking strategically to expand its operations with both existing brand partners and new ones.’
Endeavour Automotive holds franchises with Volvo, Hyundai, LEVC, Lotus, Polestar, Omoda and Jaecoo, and has 22 sites across London, Buckinghamshire, Berkshire, Hertfordshire, Essex and Suffolk.
Pictured: Endeavour Volvo, Chiswick
