Auto retailers post record margins, £1.7bn profit
23 November 2022
In 2021, auto retailers achieved their highest net profit margin in the history of the BDO Motor 150 Report. The Motor 150 group of retailers also surpassed £1bn in pre-tax profits for the first time – by a clear margin too, reaching an extraordinary £1.7bn, compared to £449m in 2020.
The largest 75 auto retail groups achieved a 2.39% net margin. The next 75 bettered this with a 2.59% net margin.
BDO says the “extraordinary” increases in used car values delivered significantly improved margins, one that retailers have fully capitalised on.
BDO head of motor retail Steve Le Bas said the industry now finds itself at a turning point, because of factors such as the switch to EV, moving from franchise to agency, and the industry-wide skills shortage.
“Motor retail is not easy, but what’s constant is the ability of dealers to adapt, change and succeed, particularly when times are tough.”
Read the full 2022 BDO Motor 150 Report when it is published on Wednesday.
Tags:
BDO 
Why Subscribe?
As an auto retail executive you need insightful and unique industry intelligence to boost your business potential. Here’s a taste of what Auto Retail Network has to offer:
- Get informed and boost your business potential
- More than 1,200 fellow executives have joined us since launch
- Independent, carefully crafted, unique content relevant to you and your business
- Develop a greater awareness of market trends and opportunities
- Access to a wide range of materials whenever, wherever and however you want it
- Significant discounts on ARN events, reports and other publications
