10:07 am, October 23, 2025
Franchised car dealer Vantage Motor Group has announced improved profits for 2024, despite a drop in new car sales.
Accounts recently filed via Companies House show that Vantage Motor Group Limited made a pre-tax profit of £1.29m in the 12 months to the end of last December.
The result represents a 40% increase on 2023, when the firm’s profit dipped below the £1m mark to £929,000.
Elsewhere, the firm’s EBITDA – the measure by which the Car Dealer Top 100 is ranked – rose from £3.48m to £4.83m.
The impressive result came despite a decline in new car volumes, which fell by 2% throughout the year. Bosses say that the drop was offset by its the company’s successful management of used cars and growth in aftersales revenues.
The new car difficulties were also not enough to prevent a rise in turnover, with revenues jumping slightly to £273.29m.
Meanwhile, the group’s gross profit margin rose to 11.4%, compared to £10.7% in 2023, with its operating margin going from 0.9% to 1.3%.
The year did not see any changes to the firm’s dealer network, meaning the outfit ended 2024 with nine Toyota and two Lexus sites, as well as one showroom each representing Kia and Skoda.
Reflecting on the period, secretary Timonthy Swindin said: ”In this challenging new car trading environment, our new car volume fell by 2%.
‘Our used car sales in 2024 were in line with the previous year selling almost exactly the same number of cars.
‘We were however able to significantly improve our retained gross margin. This was achieved through careful stock management and robust pricing to the market.
‘Our used car performance was a large factor in the group’s overall increase in gross profit return on sales.
‘Our management of used cars and growth in aftersales revenues offset the decline in new car profitability and enabled the group to increase overall gross profit generated in the year.
‘Costs continue to increase in the current inflationary environment.’
Throughout the year, the average size of Vantage’s workforce grew by two employees to 427, with staffing costs coming in at an increased £20.02m.
Directors remuneration came in at £750,000, compared to £780,000 in 2023 – a drop of 3.8% – while no dividends were paid out during the year.
