Car dealer continues ‘positive’ year

MANCHESTER-BASED car dealership group Lookers has posted a positive set of trading results, despite a drop in demand for new cars.

New car registrations have fallen for seven months in a row, according to industry data, hit by weaker consumer confidence.

Lookers expects sales to fall by almost five per cent this year, the first annual decline since 2011.

The chain said manufacturers were cutting sales targets by on average around 10 percent to reflect the cooling market.

However, in its third quarter results ending September, Lookers said its ‘positive trading performance’.

In a statement Lookers said: “We are pleased to report that our key manufacturer partners recognise the more difficult trading environment and are taking pragmatic and supportive actions such as reducing targets, increasing tactical incentives and helping us to reduce operating costs which will offset the effect of lower new car volumes going forward.”