9:56 am, January 31, 2024
Award-winning used car dealer SUV Prestige has been forced to close after ‘difficult trading conditions’ made it impossible to continue operating.
The Wetherby-based business was one of the largest independent prestige car dealerships in the UK, stocking up to 300 high-end sports and luxury vehicles, as well as 4x4s.
Founded in 2013, recent years saw the outfit experience a rapid rise under the watchful eye of husband and wife team Steve and Satinda Dhesi.
The pair won Dealer Principal of the Year at the 2022 and 2023 Used Car Awards – the latest of which was held just two months ago.
Speaking to Car Dealer this morning, an emotional Steve said: ‘It’s not been a great time for us. Unfortunately, due to difficult trading conditions we have had to close the business.
‘We are now focussing on trying to help find alternative employment for all of our amazing staff.’
The news is likely to come as a shock to many, with SUV Prestige growing into one of the most-watched names in the industry over the past few years.
Back in 2022, Steve told Car Dealer how a change in business model had kickstarted the business.
He said that a shift in focus towards high end models during the pandemic resulted in profits rising by over 1,500 per cent, while maintaining its original volume of around 100 cars per month.
The change of approach also allowed the business to invest heavily in a state-of-the-art new site but, sadly, things now appear to have come crashing down.
Despite this, employees spoken to by Car Dealer today have been glowing in their praise for Steve and Satinda.
The pair were vocal about their employee-centric approach with Steve previously telling Car Dealer: ‘Everybody goes 110 per cent every single day.
‘We have got a fantastic team and we’re really, really proud of them.
‘The way we treat our family and kids, we treat the SUV Prestige family the same way.’
Last February, SUV Prestige also completed an expedition to deliver cars and donations to Lviv, Ukraine, to help those fighting on the frontline.
The business even won our Best Used Car Online Sales Experience at the 2022 Used Car Awards.
The firm is the second Used Car Awards winner to close in recent months, after Emerald House of Cars appointed liquidators back in December.
