TRENDS
Vertu, the car dealership group that operates the Macklin Motors brand north of the Border, remains in the acquisition driving seat with Scotland on its radar after booking record interim profits.
Chief executive Robert Forrester also pointed to some of the heat coming out of the debate over diesel vehicles, stressing that the latest models were environmentally friendly and remained a sensible option for those doing high mileages.
Recent industry figures showed that demand for diesel motors continued to drop sharply – down 21.7 per cent, year-on-year, in September and 13.7 per cent for the year so far.
Governments on both sides of the Border have recently announced plans to ban the sale of all conventional dieseland petrol-powered cars over the next couple of decades in an attempt to meet European Union limits on nitrogen dioxide pollution. Ministers are also considering funding measures to cut pollution with a tax on new diesel vehicles.
Speaking as Vertu unveiled a
0 CEO Robert Forrester: ‘We are very focused on the Scottish business’
“We saw an initial switch into petrol from diesel but that has moderated as people have realised that new diesel cars are still good cars.”
ROBERT FORRESTER, CEO pre-tax profit of £24.2 million for the six months to the end of August, up 29.4 per cent on the year before, Forrester said: “There are clean diesels and dirty diesels and the latter are clearly a problem.
“We saw an initial switch into petrol from diesel but that has moderated as people have realised that new diesel cars are still good cars. I see a bit of stability and common sense coming into that debate.”
He predicted that sales of electric cars would “take off ” around 2025 when the cost of an electric vehicle with batteries is expected to equal that of an internal combustion-powered vehicle, before falling sharply.
On the acquisition front, Forrester said the group’s strong balance sheet positioned it to take advantage of the opportunities that are “undoubtedly going to come”. He said he “wouldn’t rule out” further deals in Scotland, where the firm has made a “big investment” in the last 18 months. “We are very focused on the Scottish business,” he added.