• 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

Used car supermarket Big Motoring World clocks up £11m profit for 2020

James Baggott by James Baggott
February 1, 2021
0
Home News

Peter Waddell’s Big Motoring World has released preliminary financial figures for the car supermarket group showing profit of £11m for 2020.

Despite lockdowns and Covid restrictions, the dealer group managed to turn over £295m and sell 22,000 used cars.

This was better than the number it sold in 2019 when the group shifted 20,404 cars – especially impressive considering its sites were closed or operating under Covid restrictions for much of the year.

Big Motoring World Group opened a new site in Enfield which contributed significantly to the group’s numbers. It stocks 900 cars.

Chief executive officer Peter Waddell said: ‘In Q2 we were the first out there, operating click and collect, but in the face of limited customer interaction, it hampered sales and opportunities to sell value added products. 

‘Despite this we recorded an excellent result for the year and I am so grateful for the support of my colleagues and all of our employees, and to those business partners who found ways to help us through a very challenging times.’

He added: ‘The new 900-car site at Enfield which opened at the start of the year has matured rapidly to deliver well above expectations. The Peterborough preparation centre which opened in mid-2019 has scaled up quickly to service the requirements of Big Motoring World too.’

Big Motoring World finished 19th in the Car Dealer Top 100 list of most profitable dealers which took into account 2019 numbers. That year, the group turned over £293m and had EBITDA earnings of £12.49m.

Waddell also launched sister business Carzam at the end of last year, which offers online-only used car sales. Car Dealer recently tried the site out and was impressed with the service.

The Carzam website recorded 1,000 sales in its first six weeks of operation and is already on course to sell 20,000 cars in its first year.

  • Carzam sells 1,000 cars in six weeks

Waddell added: ‘When we are beyond the Covid-19 restrictions, and the vaccine is rolled out, I am very optimistic about the prospects for bumper trading. 

‘This business is capable of delivering closer to 30,000 units and £20m EBITDA, and we’re ready to make that a reality.’

The results were reported by the company in a press release and have not yet been filed with Companies House.

  • Join our breaking news WhatsApp group
  • Listen to the latest Car Dealer Podcast
  • List of the Top 100 profitable car dealers in the UK

Related Posts

Volvo XC40 recharge plug-in hybrid
News

Volvo and Geely Auto to cosy up further over tech but aren’t going to merge

February 25, 2021
Aston Martin Valkyrie
News

Aston Martin retail sales fell 32 per cent as manufacturer clocks up substantial losses in 2020

February 25, 2021
Used car market stronger than ever as August sees sales up by nearly 50 per cent for Big Motoring World
News

Demand for used cars almost three times higher in January 2021 than in Lockdown 1

February 25, 2021
Inchcape Volkswagen Chester Jun 2018
News

Inchcape swings to a £128m loss as it looks to offload more car dealerships and focus on distribution

February 25, 2021
New Seat Leon Cupra 2021
News

Feb 25 round-up: Stay at home plea; Exams grading plan; New Cupra Leon; Heathrow’s dire warning

February 25, 2021
Vikings Mercedes-Benz Jun 2019
News

Man detained with keys to ‘high-value’ cars after Mercedes-Benz showroom break-in

February 25, 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