WEAK demand for new cars and tumbling residual values saw Dixon Motors report 'satisfactory' results for the year to December 31, 1999 of pre-tax profits down 20.8% at £8.4m (1998: £10.6m) on turnover up 3.5% at £660m (1998: £637.7m). Chief executive Paul Dixon said: 'These results reflect a robust performance when viewed against the poor 1999 marketplace affected by new car pricing issues.'

Company sales of new and used cars increased both on a like-for-like basis and overall, giving total new car sales last year of 27,620 (1998: 25,108) and used car sales of 29,784 (1998: 28,654). Dixon said new car demand was weak and falling secondhand car values resulted in the company reducing used vehicle stocks by £11 million. The company's accident repair centres - Dixon Car Clinics - saw business increase 10%.