Bruce relishing driving Lookers ahead

AFTER 12 years with Lookers chief executive designate Andy Bruce is looking to build on the group’s strong position.

The 48-year-old Scot, currently the car dealership group’s chief operating officer, and MD of its motor division, says Lookers will continue to adopt a “disciplined approach” to expansion.

Although armed with a £60m warchest for acquisitions, Mr Bruce told TheBusinessDesk.com that Lookers, which has 120 sites in England, Scotland and Northern Ireland, will steer a careful path.

“The model is to buy in locations where we have management capability and where there is a franchise and a brand where can make money.

“Our acquisition of Shields Land Rover (near Glasgow) ticked all the boxes in that respect. But if someone offered us a Hyundai dealership in Plymouth, that would not tick many boxes, so we’d be unlikely to do that deal.”

Reflecting on a strong first half for the Old Trafford-based group, which saw profits rising 20% to £28m, Mr Bruce said there had been good growth across the board.

“We have got a good franchise mix – Ford was very strong, up 26% in the first half, while Land Rover continues to be really strong too. Generally the UK market has proved to be stronger than the others in Europe and the manufacturers have been driving demand here by attractive finance packages – three out of four new cars are on finance packages.

“The signs are good for the second half with demand for the plate change in September looking strong.”

Asked about stepping into the shoes of Peter Jones, who will retire at the end of the year, Mr Bruce said: “I have learned a lot from him over the last 20 years, and I hope I can emulate his success.

“He is the best leader I have worked with by some distance, but Lookers is not just about one person, it’s a team effort.”