Porsche Retail, the factory-owned vendor group, noticed pre-tax income dip -2.5% final 12 months to £22.02m on turnover up 22.9% to £518.4m. The corporate’s return on gross sales was 4% in comparison with 5.2% final time.
The group elevated new automotive gross sales to 3233 in comparison with 2804 the prior 12 months whereas used automotive gross sales models rose to 2,172 in comparison with 1,802 in 2022. The group’s used to new ratio elevated to 0.7 from 0.6 final time
“Total new and used car volumes in 2023 increased by 733 vehicles, representing an overall increase of 17.3%,” it stated in outcomes filed at Corporations Home and signed off by managing director Adam Flint.
“The rise in new vehicles was anticipated based mostly on communications from the producer in 2022 and 2023.
“Return on sales is a decline year on year but remains good by industry standards. The competition in the marketplace in Q4 2023 has also impacted the returns,” it stated.
The corporate’s headcount rose to 338 in the course of the 12 months in comparison with 294 final time as a result of opening of service operations in Guildford and West London.
The group can be redeveloping its Porsche centre in Hatfield, anticipated to begin in Q1 2025.
