Lookers optimistic after strong start

CAR dealership Lookers expects to beat full-year forecasts after seeing new car sales jump by 25% in the first quarter.

The Manchester-based group said it had enjoyed a period of “excellent” trading against a wider backdrop of improving car sales – the UK market was up 18% during the period.

Fleet volumes at Lookers were up 6%, slightly behind the 9% increase in the wider market. It said this was down to its focus on higher margin vehicles. Used car sales also increased, up 8%.

In a statement it said: “The group has made a strong start to the year with an excellent result for the first quarter and we continue to outperform what has been a strong new car market.

“The group has benefitted from a significant increase in volumes of both new retail and used cars, as well as improving margins in both sectors.”