2:47 pm, July 1, 2022
Dealer group TG Holdcroft saw its profits double in a hugely successful 2021, new documents have shown.
The Car Dealer Top 100 outfit was buoyed by bumper turnover which rose from £347.3m in 2020 to £476.9m in 2021.
Accounts published with Companies House also show that the Stoke-on-Trent-based business increased its pre-tax profit by 112 per cent.
In 2020 the firm made £5.1m but that shot up to £10.8m in the 12 months to December 31, 2021.
The same period also saw new car sales increase by 23.2 per cent to 6,143 units and used car sales rise by 23.8 to 9,393 units.
Over the course of the year, TG Holdcroft also added seven new dealerships, bringing its total number of sites to 29.
It represents Hyundai at seven showrooms and Honda, Renault and Dacia at four. It also represents the likes of Nissan, Mazda, MG and Volvo.
A statement signed off by the board said: ‘The board of directors are extremely pleased with the results for 2021.
‘It has, however, proven to be another turbulent year with Covid-19 still having an adverse effect on our working practices, thus requiring large scale adjustments to both processes and systems in order to fully engage with our existing and prospective customers.
‘The retail motor industry as a whole is still feeling the adverse effects caused by factory shutdowns, as well as component shortages, and this will take some time to revert to any kind of normality.’
