Fleet News

Lookers optimistic despite losing its Ford franchises

LOOKERS Group has lost its Ford franchises following a major re-organisation of dealer networks by manufacturers. Despite the loss and the revealing of 'disappointing' motor division profits in the second half of the company's financial year, according to figures released last week, the company is optimistic about the future.

It blamed the lower than expected motor division profits on margin reductions on niche models. However, Group chairman Ken Martindale believes the future for dealers is brighter and has applauded the decision of vehicle manufacturers to re-organise their dealer networks which will result in fewer dealers covering larger territories.

As a result of the on-going initiative Lookers has re-assessed the viability of some of its smaller dealerships and is set to sell its three Ford outlets and two other outlets as going concerns.

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