8:51 am, October 22, 2026
Dealer giant Sytner saw its turnover fall by almost £1bn last year as a sharp drop in used car sales dragged down revenue and profits.
Accounts recently filed via Companies House, show that the US-owned firm made a a pre-tax profit of £51.62m in the 12 months to the end of last December – down 10% on 2024’s £57.33m.
Turnover fell 13.2% from £7.29bn to £6.32bn – a decline of £966m – with the group blaming lower sales volumes, particularly in the used car market.
Overall, the firm sold 90,754 used cars during the year, down 23.7% on the 118,895 it shifted in the previous 12 months. New car sales also fell, dropping 10.6% from 85,042 to 76,016.
Bosses say the period brought ‘challenging’ market conditions, including ‘demand and cost pressures’.
They also pointed to the JLR cyberattack, Mini’s switch to agency sales and the impact of the ZEV mandate as reasons for the slide in profit.
In a statement included in the accounts, secretary Simon Moorehouse said: ‘The reduction in revenue was primarily driven by lower vehicle sales volumes across both new and used cars.
‘The decline in used vehicle retail sales was particularly pronounced and was the largest contributor to the reduction in turnover.’
‘Although gross margins improved, the benefit was more than offset by lower sales volumes and the fixed-cost nature of the Group’s operating cost base,’ he added.
‘The market in which the group operates continues to be challenging.
‘Total UK new car volumes remain lower than pre-covid levels with inflation rates, that continue to lie above the Bank of England’s target, causing cost of living pressures.’
Network shake-up
Despite the difficulties, Sytner did continue to expand its franchise portfolio during 2025, opening eight Chery and Geely dealerships at existing locations.
It also sold a used car dealership in Manchester.
Meanwhile, the firm closed its Ascot service site in early 2026, with closing costs set to come in at around £2m.
Sytner said the closure was not expected to have a material impact on its future operations, but the accounts do not state how many jobs, if any, will be affected.
Throughout the year, Sytner’s average monthly workforce fell by 10.6% from 10,902 to 9,749, with staff costs also falling from from £533.6m to £507.1m.
At the same time, directors’ remuneration increased by 13.5% to £3.26m.
Sytner did not pay an interim dividend in 2025, compared with £65.25m in 2024, and did not recommend a final dividend.