Losses at Eden Motor Group mounted in 2023 as a result of provide points impacting its new and used automobile gross sales.
The outcomes for its mother or father, Eden Automotive Investments filed at Firms Home noticed pre-tax losses greater than trebling to -£6.6m (2022: £1.86m) on turnover up 18.7% to £327.4m.
Eden Motor Group was shaped 20 years in the past by CEO Graeme Potts, and Vauxhall Motors in 2008, and has grown since launch to over 20 dealerships throughout the south, representing Hyundai, Mazda, MG, Peugeot and Vauxhall.
“The trading performance for the group was impacted during the year by limitations in the supply of new vehicles which created lead times that hadn’t been seen before and in turn this reduced the availability of used cars,” mentioned Potts in accounts filed at Firms Home.
“With new vehicle production being targeted at retail customers, this created a further limitation in the availability of used cars as fleets extended the lease periods due to both low utilisation of the vehicles over the pandemic and the new vehicle supply constraints and slowed the replacement cycle of the vehicles,” he added.
Potts additionally commented on the scarcity of elements and its affect on aftersales.
“The battle in Ukraine and continued provide chain points affecting the OEN crated vital delays within the provide of substitute elements.
“This led to a back log in customer vehicle repairs and required significant investment into courtesy vehicles or order to meet the customers’ needs of mobility.”
