Workbench Logo
Workbench Logo
Workbench Logo
Workbench Logo
Workbench Logo

Vertu fleet volumes leap

By / 5 years ago / Latest News / No Comments

In an update to the City, the group announced that the like-for-like increase compared to a decline in fleet market registrations overall of 0.8%.

Vertu Motors chairman Paul Williams said: ‘The group has seen considerable growth in fleet and commercial volumes compared to a market fall of 0.8%.’

Overall, Vertu saw revenue during the four month period grow by 11.6%, with new retail car sales rising by 0.3% compared with a market growth of 10.1%

Williams added: ‘The fall in the fleet market partly reflects what the board believes to be an increasing trend for self-registered vehicles to be classified as private rather than fleet registrations within the market.

‘The market is witnessing increased levels of self-registration by UK dealers which is inflating registration data compared to sales levels. The group continues to follow a policy of not engaging in significant self-registration activity.’

The trading update follows Vertu’s full-year figures for the year ending February 29 which saw fleet sales rise by 4%, with commercial vehicle volumes rising by 11.6% to offset a 2.4% decline in fleet car sales. Of the 43,263 new vehicles Vertu sold in the previous financial year, 17,863 were fleet and commercial vehicle registrations.

Related Post

The author didn't add any Information to his profile yet.

Leave a comment

You must be logged in to post a comment.