Daimler is expanding its reach to the Illawarra, with a new truck dealership opening its doors in Wollongong on New South Wales’ south coast.
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Shares of Landmark Cars sprinted 9.3 per cent to Rs 785.75 apiece on the BSE in Friday’s intraday trade after the company announced that it has received a Letter of Intent from MG Motor India Pvt Ltd for opening a dealership in Ujjain, Madhya Pradesh. This dealership, the company said in an exchange filing, will be established by Aeromark Cars Private Limited, a wholly-owned subsidiary company of Landmark Cars. At 10:50 AM, the stock of the auto dealer was ruling 7.2 per cent higher at Rs 770.4 per share as against 0.9 per cent gain in the benchmark S&P BSE Sensex. That said, the stock has underperformed the market over the past one month, falling 12 per cent during the period. By comparison, the benchmark Sensex gained 1.2 per cent during the period MG Motors’ dealership will include sales and after-sales of MG Cars. After Indore and Bhopal, this is Landmark’s third MG dealership in the state of Madhya Pradesh. “This new dealership aligns with Landmark’s goal of ongoing expansion by penetrating further across geographies as well as OEMs. Landmark has signed six dealership agreements with MG Motor in a brief time period. Currently, Landmark Cars is present in nine states of India,” it said in a statement. Landmark Cars Limited is the leading premium automotive retail business in India with dealerships for MercedesBenz, Honda, Jeep, Volkswagen, BYD, Renault, Mahindra & Mahindra and MG Motors. The company also caters to the commercial vehicle retail business of Ashok Leyland in India. Financially, the company’s revenue stood at Rs 960 crore at the end of the December quarter of FY24 (Q3FY24), clocking a rise of 9.5 per cent from Rs 880 crore in Q3FY23. Ebitda margins stood at 6.8 per cent, noting a decline from 7.4 per cent in Q3FY23. This was due to the upfront costs incurred in the quarter for the upcoming new outlets. Additionally the company liquidated some inventory at lower cost foregoing margins and repaid debt. Revenue for the first nine months of FY24 (9MFY24) stood at Rs 2,420 crore, down 4.1 per cent from Rs 2,530 crore in 9MFY23. Margins were flattish at 6.8 per cent compared to 7 per cent last year. “Dealers like Landmark are well placed to take advantage of the price increase in auto sapce but in the quarter gone by they have seen supply issues. To counter this, the company has been expanding their presence by opening outlets with the newer brands. The management sees their next leg of growth coming from the 3Ms – Mercedes, MG Motors, and M&M benefiting from their TEV and EV portfolio,” said analysts at Phillip Capital in their result review report. Landmark Cars has a pipeline for 10 new outlets to be opened in the next 4-5 months for which they incurred costs upfront. Besides, in 9MFY24, the company sold 641 pre-owned cars under the brands they represent, accounting for Rs 67.1 crore, 2 per cent of proforma revenue versus 1 per cent last year. The company is on track to cross
Landmark Cars wins MG Motors dealership in Ujjain; stock rallies 9% | News on Markets - Business Standard
https://news1110.com
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The sole Thai distributor of BYD will triple its dealerships in Thailand in two years
BYD's Thai distributor to triple EV dealerships, expand commercial offerings - report - TNGlobal
https://technode.global
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Pak Suzuki shutters motorcycle plant for fortnight: … Suzuki. Due to the shortage of essential raw materials, both Honda … interruption in raw material imports brought on by … productivity across multiple sectors of the economy. The news of Pak Suzuki … general public alike. The motorcycle plant, a significant … #motorcycle #motorcycles #motorbike
Pak Suzuki shutters motorcycle plant for fortnight
geo.tv
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UK, Scotland Helensburgh Toyota will start an "exciting" new chapter as it comes under staff ownership after being sold to a trust formed by its employees. Helensburgh Toyota staff to take over local branch January 10, 2024 By Emma Reilly The Helensburgh Automotive Employee Trust – comprised of 34 employees across the two local sites – will take over the firm in March 2024. Current owners Gary Mulvaney and Ernie Cowan will remain in their current roles until March as part of the handover process of the business, which has a turnover of £16 million. The independent dealership has held the Toyota franchise in town for more than 45 years. Mr Mulvaney, the dealership's managing director, who joined the company in 1997, said: “It’s a very exciting time for the company with lots of opportunities ahead. “Toyota has been a global leader in hybrid technology for over a quarter of century and is developing a range of electric and hydrogen vehicles to give our customers a genuine choice for the future. “People have always been at the heart of what we do, whether that is staff, customers or the community. “This felt like a natural transition as the business will remain in the hands of those local staff who have made it what it is. “Our customers value the service, the personal attention and the familiar trusted face when they walk in, and that will remain.” Helensburgh Toyota is believed to be the first Scottish car dealership to make the move to implement an Employee Ownership Trust [EOT] which can pass the company into long term employee ownership. An employee ownership trust (EOT) can allow business owners to sell a controlling stake in their company to realise their value whilst passing the company into long term employee ownership. The EOT is operated by trustees, with all employees acting as beneficiaries. The transaction was supported by employee ownership specialists Ownership Associates, with legal advice provided by Bellwether Green. https://lnkd.in/esutxUF6 #automotive #retail #dealership #toyota
Helensburgh car dealership is sold to its employees in 'first of its kind' move
helensburghadvertiser.co.uk
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Change in strategy with ex Pendragon retail plans post Lithia acquisition - closure of CarStore used vehicle business to focus on the franchised operations as a result of used car supply issues https://lnkd.in/eXheX3wm
Pendragon owner to cut hundreds of jobs in used car overhaul
ft.com
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UK Arnold Clark, Listers and Greenhous part of Chinese carmaker Omada dealer network! Omada UK adds dealers to network Monday, 15 January 2024 John Kirwan Chinese carmaker Omada claims to have 50 retail sites confirmed across the UK prior to its launch in April with a full year target of 100. Dealers on board include Listers, Arnold Clark and Greenhous. OMODA arrives in the UK with two cars. The OMODA 5 SUV is powered by a 1.6-litre turbocharged petrol engine. The OMODA E5 is a pure electric model with a claimed driving range of 280 miles. Introduced in 2022, OMODA launched in 15 new markets across Eastern Europe, Central and South America, and Southeast Asia last year. In 2023, OMODA had global sales of 147,000 vehicles. Cullum Goodson, network development manager for the UK, said: “We knew from the outset having a physical retail presence would be a key part of our approach in the UK, and with over 50 sites already confirmed pre-launch we’re exactly where we want to be. “Even before we were able to show anyone a physical car, interest was high purely based on how strong the product is and the value it offers. Now there’s been a chance to see the car, that enthusiasm is snowballing, especially with our plans for future models evolving.” https://lnkd.in/e6yTH_Ud #automotive #retail
Chinese carmaker Omada adds dealers to network
https://www.motortrader.com
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😈 The devil is in the detail… Hyundai Motor UK are cutting their franchise dealer groups from 70 to 55 - BUT - total Hyundai dealership sites will actually rise from 165 to 173 Effectively they’re doubling down to sell more stock with fewer groups Hyundai’s dealer groups will have more cars to sell across more sites - making the logistics of moving cars between these sites quickly and cost effectively *even more important* for these franchise groups to manage stock turn and limit operational overheads…
Manufacturer Hyundai Motor UK is to cut back on how many dealership partners it has https://lnkd.in/ezuizeTd #cardealer #network #reduction #partners #increase #showrooms Ashley Andrew
Hyundai to cut number of UK dealers it works with as it looks to 'future-proof' network – Car Dealer Magazine
cardealermagazine.co.uk
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Senior Consultant - Sewells MSXI; Aftersales Trainer - GP Strategies; Aftersales Trainer - Boundless Development; Aftersales Trainer - TTBSOL
Regarding the Article some days ago and some 400 Ford Dealers opting out of the EV Program - maybe a misconception that the Ford Dealers are deserting Ford - my perspective: The Article is explicit that the Dealers are opting out of the EV Model and Program and I certainly do not get the impression that the Ford Dealers are deserting FORD Motor Company It is really not surprising as one looks at reality and that reality is the sales being achieved of EVs and the gap that exists between the current levels of most EV OEMs and their BEP The Agency Models hasn't exactly moved mountains in South Africa and whilst the "outdates" Franchise Model" has been in existence as some put it. for "hundreds of years", we certainly are not witnessing a replacement model The Dealer has a definite place in the envisaged Supply Chain and to think "At Home Servicing and Maintenance" is the answer, maybe a poor understanding of the complexities and Demands in an Aftersales Department Dealerships are NOT going to disappear and maybe we need to start thinking of a logical Hybrid Version of the current status quo
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An IPO of 600 crores for TOP automobile dealership No 1 in revenue and growth in the last three years, this workshop is going for an IPO of 600 crores. It has grown with a CAGR of 30% in revenues and 40% in PAT in the last three years. “Popular vehicles and services“, The automobile dealership has 400 touch points across 4 states primarily driven by Maruti, Tata Motors-CV, JLR, Bharat Benz, and EV 2 wheelers and 3 wheelers. Headed by Mr Navin Philips- an aggressive and experienced dealer who studies the pulse of the customers and aggressively addresses it. This dealership is perhaps the only dealership in the country that tops 4800 crores of revenue. Headquartered in Cochin, it has business across 4 states i.e. Kerala, Tamil Nadu, Karnataka, and Maharashtra. The post-sales service of the vehicles is exemplary and their main strength. The service job cards are 5 times more than sales figures in the last year. The network includes 59 showrooms, 126 sales outlets and booking offices, 134 service centres. Total income increased from 2921 crores in 2021 to 4892 crores in 2023 and pat grew from 32 crores in 2021 to 64 crores in 2023. Their only PEER is Landmark automobiles even though it is not apple to apple. Their turnover in 2023 was 4500 crores ( including 2000 Mercedes cars.) They have 117 outlets in 29 cities and deal in Mercedes Benz, Jeep, Honda, and Volkswagen. Their IPO came in December 2022 @ 495/ and is presently quoted at 700 to 800 rs. The IPO price of Popular Vehicles is 280 to 290 and is likely to make money for the investor in the long time. IPO brings in low-cost money ideal to offset any debts, and other corporate expenses and expansion. It also brings in professionalism as analysts dig into the published accounts and evaluate the running price of the shares. Given the aggressive business sense of the promotors, the share price is bound to increase with increasing EPS. Another major benefit of diversification and extra funds is that automobile dealers grow bigger than their OE and dependence decreases and gets derisked. More and More dealerships are bound to go for it.
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