Pendragon who own Evans Halshaw and Strathstone advise that they are looking at all their dealeships to only allocate capital where they will get a return as they appear to be annoyed at 2 premium manufacturers forcing stock on to the market.
They have BMW, Merc, Jaguar and Landrover therefore I wonder who are the bad boys. I know a friend who has purchased a BMW recently at a very large discount so are they one of them.
This snippet also came up today as well.
UK stocks of unsold cars are rising
Pendragon’s profit warning is also fueling fears that stocks of unsold cars in the UK are building up to dangerous levels.
Accountancy firm UHY Hacker Young warned earlier this month that car dealers are sitting on 16% more unsold stock than they were just a year ago. The total of new cars gathering dust is now worth £27.3bn, up from £23.6bn last year.
I suppose the old saying that if the deal looks too good to be true it is because it is too good to be true.
Who do the panel think are the two naughty manufacturers.
