Fleet News

Price fears bring profits warnings

PUBLIC confusion over new car pricing issues has led two major dealer groups to issue profits warnings. Both Pendragon and Sytner Group have issued statements that reveal a significant slow-down in new car sales since September.

Pendragon blamed the slow-down on two principal factors: 'The well publicised potential for harmonisation of new car prices between the UK and continental Europe, and statements in mid-September from certain key manufacturers concerning pricing policies.'

This was a reference to Ford's promise that pledged to reimburse anyone who bought a new Ford between September and the end of December, only to find themselves out of pocket because the list price of the car was subsequently reduced.

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