Britain’s biggest dealer groups have capitalised on the shortage of new cars to extract greater profit than ever from each sale so far in 2022, financial figures show.
However, bumper profits recorded last year on the back of the soaring value of used cars have slipped back this year, as the cost to source those cars has also increased.
Vertu, best known for its Bristol Street Motors brand, recorded its second highest ever profits in its history with new cars “the star performer”, it said in a release detailing figures in the first half of its financial year, which started on 1 April.
