LOOKERS CUTS SITES AMID 89pc DIVE
THE crippling impact of the coronavirus crisis on the motor trade was laid bare yesterday – with the announcement of 2000 job losses and an 89 per cent slump in sales.
English car dealership giant Lookers revealed plans to axe 1500 jobs and shut 12 showrooms on top of the 15 already earmarked to close.
The group is reeling from the industry-wide plunge in new car sales during lockdown, as well as the fallout from uncovering a potential fraud in the business in March.
New chief executive Mark Raban said: “We have taken the decision to restructure the size of the group’s dealership estate to position the business for a sustainable future, which regrettably means redundancy consultation with a number of our colleagues.”
Jobs are also set to go at struggling
Aston Martin, with bosses planning to shed up to 500 staff as part of a “fundamental reset” of the luxury car maker. Figures from the Society of Motor Manufacturers and Traders show that just over 20,000 new cars were bought last month, 89 per cent down on the 184,000 sold in the same month in 2019. Car traders will be hopeful of a restart after showrooms opened up again on Monday. Jim Holder, What Car? editorial director, said: “Our research on in-market buyers shows more than a third are intending to purchase a new car in the next four weeks, so we should be seeing a surge in registrations in June.” But he warned that the number of buyers looking to purchase in the next six months was falling, suggesting long-term consumer confidence is weakening.
Car firm will shed 500 jobs