9:51 am, November 18, 2025
Car dealer group Jemca clocked up a loss for the second year running in 2025, accounts for the business reveal.
The firm, which represents Toyota and Lexus in North London, saw turnover fall dramatically but improved its performance despite still logging a £297,215 loss.
However, the 2025 loss is a 93.7% improvement on the previous accounting period which saw the business lose £4.7m before tax.
In the firm’s strategic report in accounts, just filed to Companies House, it blamed the ZEV Mandate for its performance.
The firm said: ‘The level of business and the year end financial position reflect another very challenging trading environment for the company, mainly due to the continued Zero Emission Vehicle mandate imposed by the government.’
The firm said Toyota and Lexus had ‘only three electric vehicles’ and the ZEV Mandate restricted the volumes of non-EVs available for sale. It also rued the lack of a ‘small EV for the London market’.
Turnover for the business dropped from £345m in 2024 to £297m in 2025. No dividend was paid.
Used car volumes dropped for the firm by 10%, however margins improved by 8% on those used models it did sell.
Fleet sales were down 25% as the firm took a deliberate move to ‘retreat from low margin business’.
The group does still boast a strong balance sheet, with net assets of £17.7m (2024: £17.8m) and cash of £4.5m.
Its improved performance was helped after it executed a large cost cutting exercise during the year with expenditure down 11% thanks to a drop in staff numbers and advertising costs.
Looking to the future, the business said it will continue to focus on used cars, aftersales and future EV opportunities, including more automation and AI to drive efficiencies.
The firm added: ‘We are confident that we will see growth in our profitability over the next few years, as the focus on BEV mandate continues and retail demand for ZEV growth.’
Credit: Google
