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Inside the industry: Why it's too easy to criticise booming dealer profits | Autocar

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As car retailers that made use of lockdown business measures announce booming yearly profits, Jim_Holder looks into the arguments as to whether they should pay the money back or not

Its boss, Robert Forrester, reasons that it was forced to close by government “diktat” and the support measures were put in place precisely so that it would both survive and be ready to thrive when conditions allowed.Having issued an update stating that profits for the past financial year will be “not less than £75m” , he is very much in the spotlight.

Social responsibility has never been more prominent in the general conscious, but Forrester argues that Vertu is doing exactly what the government wants it to do: making money, investing in and creating jobs , but the spectre of hard times looms large. New-car supply is stuck at a historic low, with the pandemic and chip shortage now compounded by issues arising from war in Ukraine; quality used car supply is getting scarcer as a result; and the cost of living crisis is set to conflate with recession to deliver the most turbulent economic period for generations.

 

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