New car sales dip at Pendragon

Pendragon has delivered financial results for the first half of 2017 ahead of expectations with revenue up 6.3% across all its businesses, and UK Motor revenue up 4.4% to £2.23bn. The growth was largely driven by used car sales, which were up 20.9% on a like for like basis with used car gross profit up 12.5% (like for like).

However, the group has seen a dip in new car sales, back -4.3% on a like for like basis, as a result of the drop in UK private car market. Pendragon said the UK retail market fell by 5.1% for the brands it represents.

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