5:37 pm, October 7, 2020
Pent up demand and some serious hard work saw TrustFord – the world’s largest Ford dealer group – bounce back from a tough lockdown to record a £5m profit in the second quarter.
The dealer group says it notched up a record 20,000 new vehicle sales between June and August and that strong performance has continued into September.
The news comes as the firm releases its annual results for 2019 which saw the group bring in revenue of £1.71bn and make a profit of £13m.
In total the group sold 105,000 vehicles – and secured an incredible 50 per cent share of the CV market – in the year.
TrustFord Chairman and CEO Stuart Foulds said: ‘We could see plenty of pent up demand and increased vehicle reservations through our TrustFordNOW initiative during the lockdown.
‘But, we weren’t sure how long that momentum could last, so I was delighted that, thanks to the hard work and commitment across our teams, we were able to celebrate an outstanding result for the quarter.
‘Every part of the business has been busier than ever – and it’s a tribute to everyone working in these extremely challenging times that we are able to satisfy strong customer demand whilst delivering a stunning performance.’
- Join our breaking news WhatsApp group – Click here to join now
TrustFord has continued to invest in its businesses with upgrades at its Ford dealers in Craigavon, Mallusk and Knockmore, Northern Ireland.
It has also added a 120-vehicle Used CV super centre in Barnsley.
Last year the group spent £5m on each of its four new Ford Stores across the UK.
Foulds, who was interviewed on Car Dealer Live in May which you can watch above, added: ‘We have a wide range of other services in place across the country and are continuing to invest in new projects.
‘Work is now underway for new state of the art Aftersales Stores in Alperton, London and Guernsey, Channel Islands, as well as a further brand new Quick Lane store in Gorton, Greater Manchester in addition to our new “all-makes” servicing facilities in Prestwich and Colchester.
‘I am also excited that we will also be opening the first of our first pop up, SmartHub concept stores, at Jct 32, M62 later in the month.
‘We have many more initiatives in development for the remainder of 2020 flowing into 2021 to continue and maintain TrustFord’s position as one of the leading groups in the UK.’
The huge scale of the group is evident in its 65 acres of storage, refurbishment and preparation facilities in the Midlands Yorkshire and Essex.
The group can hold 12,000 vehicles and distribute 1,000 a week around the country.
TrustFord employs 3,000 in the UK and has 60 sites across the country.
- Car Dealer Mag issue 151 out now – Read it here
- Have you nominated yourself for a Used Car Award? – Do it here
- Which is the best car manufacturer to represent? – Find out here
