- Vertu Motors
- 25 June 2025 09:43:32
Source: Sharecast
Vertu said new car retail like-for-like volume growth came to 7.0%, with the group gaining market share against the UK retail market, which was up 5.6% in the three months ended 31 May. Fleet and commercial vehicle like-for-like sales volume was 3.0% higher.
On the other hand, used vehicle like-for-like volumes fell 3.8% in the quarter, reflecting tight supply in the used vehicle market and subdued consumer demand, while Vertu also continued to see weaker motability sales volumes, with like-for-like volumes down 23.2% in the period, reflecting shifts in market share away from the "traditionally dominant manufacturers" it represents.
Vertu also said high margin service revenues continued to show growth, with a 4.1% like-for-like increase in the quarter, as it benefited from initiatives to enhance revenues and vehicle parc ages. Improved gross profits were also delivered in the service and parts channels on a like-for-like basis, resulting in improved profits year-on-year.
Looking forward, Vertu said FY26 earnings were expected to be in line with current market expectations.
As of 0940 BST, Vertu shares were up 2.25% at 63.60p.
Reporting by Iain Gilbert at Sharecast.com