LONDON, June 25 (Reuters) - Pendragon Plc , Britain's biggest car dealer, said on Monday a slowdown in consumer spending would hit operating profit by about 20 million pounds ($40 million) this financial year, and 10 million next year. The firm said in a statement that higher interest rates, as well as cut-price competition among manufacturers of new cars, was hitting demand for used cars in particular.
Premium Content (PAID Subscription Required)
"Pendragon says consumer slowdown to hit profit" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
For WardsAuto.com pricing and subscription information please contact
Lisa Williamson by email: firstname.lastname@example.org or phone: (248) 799-2642