• Car Dealer Plus
No Result
View All Result
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
No Result
View All Result

Marshall reports ‘stunning’ performance in used car arena

Dave Brown by Dave Brown
August 13, 2019
0
Home News

MARSHALL Motor Group’s ‘stand-out’ performance in the used car market helped it deliver a strong set of financial results for the first half of 2019, according to the company’s CEO, Daksh Gupta.

Speaking to Car Dealer, Gupta said that the used car market had faced some well-documented challenges during quarter two and added: ‘If you think the market is forecast to decline two per cent this year, we delivered growth of 7.2 per cent which is stunning.

‘One of the things that helps us is that we have got the most prudent stocking policy. We operate 56 days whereas our peers do 90.

‘For me, having a more prudent policy, particularly bearing in mind the residual value drops that we saw in Q2, is very sensible because what it enables you to do is dispose of vehicles faster, recycle them into cash and re-invest into stock at a new revised price.

‘That’s definitely working for us and it’s one of the differentiators in the way that we run used cars. Last year as well, we had a strong performance on used cars and we’re just really pleased that we’re able to keep building on that.’

Gupta explained that Marshall’s strategy around used cars ‘is always around driving the throughput through our existing operations’. He added: ‘There’s no Marshall strategy of having our own used car centres or anything like that. We want to work with our manufacturer partners and drive the operation through our existing franchises.’

Marshall’s performance with new cars seemed to be just as impressive with the company reporting that higher new vehicle margins had offset pressure in used vehicles and aftersales during the first half of this year.

Chief financial officer Richard Blumberger said: ‘We’re really pleased with the increase in new vehicle margins.

‘It’s worth noting that we work closely with our brand partners to negotiate the right targets and critically, we retail to those targets. That minimises the need for us to pre-register and it enables us to maximise our bonus earnings.’

Gupta added: ‘The OEMs are responding to the challenging market conditions. Many of them are removing targets, they’re deferring capital expenditure and they’re throwing more cash at the retailers.

‘One of the protections that we have as a franchised retail business is that we are absolutely an extension and a partner to their businesses. Without a viable network, they don’t have a business themselves so it’s really pleasing to see that many of our brand partners are responding in such a positive manner.’

MORE: Marshall profits down five per cent in a challenging market

MORE: Marshall CEO pays tribute to Sir Michael – a ‘dynamic force for good’

Related Posts

Daksh Gupta & Robert Forrester Car Dealer Live graphic
News

Listed dealer group bosses Daksh Gupta and Robert Forrester on Car Dealer Live at 1pm Wednesday

March 2, 2021
From left, Andy Wildy, Andy Coulthurst, Tim Carr of Trade Centre Group
News

Trade Centre Group reshuffles board as it prepares for growth with showrooms reopening and new site

March 2, 2021
Volvo’s UK dealer network ‘more important than ever’ despite purely digital future
News

Volvo’s UK dealer network ‘more important than ever’ despite purely digital future

March 2, 2021
Bumper marketing campaign
News

Auto Service Finance rebrands as Bumper as it’s named one of the fastest growing companies in Europe

March 2, 2021
An aerial view of Wilsons new and used car supermarket in Epsom
News

Wilsons launches ‘game-changing’ revamped website as it eyes national car sales market

March 2, 2021
Porsche Cayenne
News

Porsche Cayenne is named the most expensive vehicle to repair based on warranty claims

March 2, 2021

Want the latest news?

Sign up to Car Dealer's daily news email updates

Subscribe
How many car dealerships does each manufacturer have in the UK? Car Dealerships Locations List 2021 revealed
News

How many car dealerships does each manufacturer have in the UK? Car Dealerships Locations List 2021 revealed

February 24, 2021
Used Car Awards with Mike Brewer and James Baggott graphi
News

Who won what at the Used Car Awards 2020? Mike Brewer reveals our winning car dealers

February 11, 2021
Car Dealer issue 156 front cover and Used Car Awards
Online Magazine

Out now: Car Dealer issue 156 features our Used Car Awards, H.R. Owen CEO Ken Choo and lots more

February 23, 2021
Used car market stronger than ever as August sees sales up by nearly 50 per cent for Big Motoring World
News

Opinion: Here are 10 reasons why I think there’ll be a rapid recovery in car sales when lockdown ends

February 16, 2021
Trophy Cars forecourt
News

Investigation: Meet the hyper-specialist car dealers making their money from weird and wonderful motors

February 11, 2021
Become a Car Dealer Plus member and get more out of this website including free legal advice
News

Become a Car Dealer Plus member and get more out of this website including free legal advice

January 15, 2021
Car Dealer Top 100 – The list in full of the most profitable car dealers in the UK
Car Dealer Top 100

Car Dealer Top 100 – The list in full of the most profitable car dealers in the UK

February 10, 2021
Bitcoin ATM terminal
News

Will car dealers in the UK accept Bitcoin for payment? Dealers speak out after Tesla plans to accept cryptocurrency 

February 18, 2021
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
Call us: 020 8125 3880

© 2020 Blackball Media

No Result
View All Result
  • Car Dealer Plus
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100

© 2020 Blackball Media

Log In
Register
Register
Server C