Fleet News

Sales up but profits fall at Dagenham Motors

REDUCED manufacturer incentives hit profits despite higher new car sales at dedicated Ford dealer group Dagenham Motors. In the year to June 30, pre-tax profits edged down 6% to £2.35 million (1995: £2.51 million) on turnover up 10% at £147.2 million (£134.3 million).

Chairman David Philip said the year had started strongly, but despite a 3% increase in new car sales, their contribution to overall profits fell by 20%. 'The group has managed to achieve small increases in the sales of new and used cars and substantial increases in the sales of new and used commercial vehicles during the first half,' said Philip. 'However, lower incentives from the manufacturer have reduced the profitability of new car sales and, in turn, affected overall first half group profit levels.'

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