Business

Car sales buoy dealer's profits

Charles Hurst parent company Lookers yesterday became the latest car dealer to forecast better-than-expected 2013 profits on the back of resurgent car sales. It said new car sales rose 19 per cent in the last nine months of this year while used car volumes were up 20 per cent. Chief executive Peter Jones said lookers' 2013 results would be "significantly ahead of current market expectations" and that "further recovery in the UK new car market provides a positive environment for further growth." Lookers is expected to post a pre-tax profit this year of more than £43 million. The Society of motor manufacturers and traders, which represents the UK's motor industry, has forecast sales of more than 2.2 million cars this year, 8 per cent higher than last year.