Car giant group Vertu Motors snaps up dealership

VERTU Motors has snapped up its 14th dealership since March, bringing its number of outlets to 90 nationwide.

VERTU Motors has snapped up its 14th dealership since March, bringing its number of outlets to 90 nationwide.

The fast-growing Gateshead-based group, which trades mainly as Bristol Street Motors, has bought a Vauxhall dealership in Harrogate out of administration for £0.8m.

It plans to run the former Nidd Vale Motors dealership from its current premises on Leeds Road in the town on a short-term basis before relocating the Vauxhall business to a new dealership development in Knaresborough within the next year.

The acquisition brings the number of Vauxhall dealerships in the Vertu group to 12. In the year to the end of June, the Nidd Vale Harrogate dealership made an operating loss of £0.7m on a turnover on £24.2m.

Vertu chief executive Robert Forrester said: “Following the acquisition of the Bradford Nissan and Renault dealerships in September, the group is keen to develop its operations in Yorkshire. Nidd Vale has in the past been a very strong Vauxhall dealer with a substantial customer base. This acquisition represents a great opportunity for the group to develop its relationship with Vauxhall and represent the brand in this area.”

Vertu last week announced it had paid £3.7m to Springfield Cars for three Honda dealerships in Newcastle, Sunderland and Durham, making the group the UK’s biggest Honda dealership. Vertu, set up six years ago to consolidate the motor sector in the UK, reported sales of £628m in the first half of its financial year, and profits of £5.2m.

 

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