Lookers Car Dealership Business Issues Second Profits Upgrade

The car dealership business Lookers has been making waves in the industry with its second profits upgrade in as many months. Despite the challenges posed by the pandemic, the company has managed to exceed analysts’ expectations and push profits above pre-pandemic levels.

With dealerships closed in the first quarter of the year, Lookers turned to online sales and Click and Drive services to maintain demand. This innovative approach has paid off, with total vehicle sales reaching 44,000 new and used vehicles. The company’s performance has been described as “ahead of board expectations,” showcasing its resilience in the face of adversity.

The latest figures from the Society of Motor Manufacturers and Traders (SMMT) for March also paint a positive picture for the industry, with a surge of 11.5% in car sales as restrictions begin to ease. This bodes well for Lookers as showrooms are set to reopen next week, allowing the company to capitalize on the pent-up demand for new vehicles.

Despite the cautious outlook for the year ahead, Lookers remains optimistic about its prospects. The company expects underlying pre-tax profits in 2021 to be “materially ahead” of current expectations, a testament to its strong performance in challenging times.

This success story is a testament to Lookers’ resilience and adaptability in the face of adversity. As the automotive industry looks to bounce back from the impact of the pandemic, Lookers is leading the way with its innovative approach to sales and customer service.

Stay tuned for more updates on Lookers and the car dealership industry as we navigate through these uncertain times together. Watch this space for more exciting developments in the world of automotive sales and services.