Trade Plates TV News: Annual results, Volkswagen’s lawsuit and Mahindra prepares to launch e2o

Time 12:54 pm, March 22, 2016

WATCH our round-up of the week’s news in the Trade Plates News Show. We take a look at some of the big dealers groups’ annual results, the lawsuit Volkswagen’s investors have filed against the car company and the planned launch of Mahindra’s electric car in London.

Lookers records seventh years of profit growth
Lookers announced its annual results which saw the company record its seventh successive year of profit growth. Revenue, operating profit and profit before tax were all up on the previous year.

Inchape PLC reports strong growth in 2015
The company reported revenue growth of 7.8 per cent and a 10.3 per cent increase in operating profit. Revenue for 2015 stood at £6.8bn, up from £6.7bn in 2014. Reported operating profit was £275.2mil.

Marshall Motor Group delivers record annual results
The group, which runs 76 dealers around the UK, showed increases in revenue and adjusted profits with record results from both retail and leasing segments. The company reported that revenue increased by 13.5 per cent to £1.23bn, from £1.1bn in 2014.

Mahindra announces the e2o is coming to London
Indian car manufacturer Mahindra officially announced that it will be launching its e2o electric car in London next month. A key part of its appeal will be its price tag, set to be in the region of £13,000.

Volkswagen faces lawsuit from its own investors
Volkswagen is facing a £26bn lawsuit filed by investors from around the world. They say the company took too long to release information about its emissions scandal.

Seat records profit for the first time since 2008
Seat closed 2015 with a profit after-tax of six million euros – a huge shift from the company’s 66 million euro loss in 2014. Growth in sales and a strong product mix with a higher contribution margin were the two main driving forces behind the change, according to the carmaker.

Ex-Sytner operations director joins CitNOW
Former operations director of Sytner Group, Geoffrey Page-Morris, has joined CitNOW to help support business expansion.

JCT600 starts £815,000 dealership redevelopment
In York JCT600 has started work on a £815,000 redevelopment of its Volkswagen dealership at Clifton Moor Gate. It’s part of an ongoing programme to enhance the group’s Volkswagen dealerships.

Vertu stalwart retires after nearly 50 years in the industry
Vertu Group Fleet has said farewell to David Jewell who joined the company in 2008. He launched the fleet division and saw it grow from 500 to 10,500 cars.

Film star for sale on Auto Trader
The Ford Mustang GT500 Shelby Cobra from ‘Gone in Sixty Seconds’ is for sale at Motorhub in Keighley. The car featured as ‘Eleanor’ in the 2000 remake of the film with Nicolas Cage.

Rebecca Chaplin's avatar

Rebecca has been a motoring and business journalist since 2014, previously writing and presenting for titles such as the Press Association, Auto Express and Car Buyer. She has worked in many roles for Car Dealer Magazine’s publisher Blackball Media including head of editorial.

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