BDO UNITED KINGDOM - Motor 150 Report 2016
21 November 2016
Original content provided by BDO United Kingdom
The 2016 edition of the Motor 150 Report reveals the aggregated performance of the top 150 companies in the UK motor retail sector. We are pleased to share that the group’s turnover has increased by over 6% to £58.6bn despite continuing pressure on margins. However, not everyone is smiling.
Key findings, which are discussed in the report in more detail, include:
- turnover and profit have increased to record levels for the BDO Motor 150, though two tiers appear to be emerging
- larger groups have managed their margins and targets well to see increases in turnover and profitability, in comparison to smaller groups who seem to have struggled under the weight of preregistrations and dealer standards
- the dealer business is evolving and those that embrace changing customer habits are the most likely to succeed in 2017 and beyond
- there has been a lot of consolidation in the sector, led by the listed groups, and this has continued through 2016 … is this a good time to sell?
- staff costs and reporting is being shaken up with the introduction of the Apprenticeship Levy and Gender Pay Gap Reporting
- many dealer groups are being visited as part of a push by HMRC to target the sector.
If you would like to discuss the report further or any wider sector issues, please contact Malcolm Thixton, Head of Motor Retail or speak to your usual BDO UK adviser.
The Motor 150 Report is published by BDO UK annually and aims to provide a considered insight into recent economic events and sector activity, the current and future dynamics of motor retailing, and to offer our professional view and advice for the future.
Click on download button below to view the full report.