Fleet News

Dagenham profits ahead

DAGENHAM Motors has announced record pre-tax profits of £5.12 million for 1996, up on last year's £5.11 million, following the reorganisation of its car sales division and the introduction of a range of cost-cutting measures in all areas.

The UK's largest dedicated Ford dealership group faced a slump in profits in the first half of the year, due to lower manufacturer incentives reducing profitability of new car sales, but recovered to end the year with turnover up £24.5 million to £291.9 million.

Sales of new Ford cars increased by 6% to 11,963 during 1996, but overall profits from the sale of new cars declined due to lower incentive payments. Used car sales remained virtually unchanged at 8,426 vehicles, although used car profits increased by 13% and exceeded new car profits for the first time.

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