FORD Retail Group has reported strong preliminary results for the year ending December 31, 2010.
The results show that the company maintained a strong trading performance, achieving a £1.1b turnover and £10.9m pre-tax profit.
Total units sold amounted to 77,353 (down on 2009’s 88,053) with new cars accounting for 24,122 (27,332 in 2009) and used 25,905 units (27,767 in 2009).
Meanwhile, wholesale units amassed 2,733 (3,041 in 2009), with new fleet car units amounting to 16,525 (18,011), and new CV units reaching 8,068 (up on 2009’s 5,688).
Though down on 2009’s figures, Ford says that the overall results exceeded internal forecasts, and are especially strong in a year without scrappage.
The company’s total sales saw its share of Ford’s UK market grow for the third year in succession to 15.6 per cent, with a 16.1 per cent share for new car sales and 13.7 per cent for new CV sales.
@first parts, Ford Retail’s specialist parts division set up in 2008, also experienced continued strong growth with an 8 per cent increase in sales over the year. It is now the largest dedicated Ford parts business in the UK.
Ford Retail chairman and CEO Chris Hayden said: ‘These results are very encouraging and provide clear evidence of the distance we have come since Ford Retail was formed in 2004. Our persistent focus on continuous improvement across all operational areas is bearing fruit.
‘In particular, our award-winning Moments of Truth initiative which is enabling us to deliver the very best in customer service, is helping to really differentiate us and build customer loyalty in our competitive market.’
Looking at prospects for the year ahead, Hayden added: ‘Along with the rest of the volume car retail sector, 2011 will present testing conditions but I am very optimistic that we are in a strong position to achieve further impressive results.
‘Specifically, the internet provides an increasing opportunity for us to diversify and grow our business, and we are fully committed to exploiting this as the market develops.’