UK's Vertu Motors reports 5.8% decline in new car sales, 5% rise in used car sales, 3.3% overall revenue increase.

Vertu Motors, a UK car dealership, reported a 5.8% decline in new car sales for the five months ending July 31, attributed to weak demand and an oversupply of electric vehicles. However, used car sales rose by 5%, leading to a 3.3% increase in overall group revenues. The company anticipates lower first-half profits but expects improvement in the second half, driven by a stronger used car market and plans to automate certain tasks to reduce costs.

September 02, 2024
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