Business

Car sales motor on as dealerships report profits hike

John Mulholland Motors in Randalstown increased both turnover and profit last year
John Mulholland Motors in Randalstown increased both turnover and profit last year

CAR sales in Northern Ireland enjoyed a marked pick-up last month - and new registrations are on course to beat last year's total.

And the increased buoyancy in the trade is reflected in higher turnovers and profits at a raft of motor dealerships.

Some 6,727 new vehicles were sold in the north last month - 5.3 per cent more than September last year, according to the Society of Motor Manufacturers and Traders (SMMT).

So far 48,286 new cars have left showrooms since the start of this year - slightly ahead of the corresponding September figure in 2014.

There was increased demand across all fuel types of vehicles and from private, fleet and business buyers.

And customer demand for diesel vehicles remained strong, accounting for around half of all cars registered.

The figures come as a number of dealerships filed their 2014 accounts at Companies House.

Randalstown-based John Mulholland Motors, which was recently named as the UK's number one Skoda dealership, made a pre-tax profit of £1,147,465 last year - up more than 40 per cent on the previous year's figure of £687,181.

It came on a significantly increased turnover of £29.4m (2013: £24.5m), and at the year end the net assets of the company - which employs 59 people - were £6,556,455 against £5,664,600 a year earlier.

The Mulholland Group, which as well as Skoda also supplies Ford and Hyundai brands and has a U-First Used car department, operates from a state-of-the-art complex at Randalstown, complemented by a sister showroom at Campsie near Derry.

And the Isaac Agnew Group parent firm, which looks after a number of subsidiaries which, as well as those bearing the Isaac Agnew name include Bavarian Garages and Volvo dealership Stanley Motor Works (SMW), made a profit of £9.54 million in 2014. That was down from £10.5 million a year earlier.

Meanwhile David Prentice (Cars) Ltd, which sells BMWs, swung from a £1.6m loss in 2013 into a small profit (£11,580) last year.

The company operated from showrooms in Portadown and Omagh until June 2013, but then merged into a single site. Part of the site at Omagh was sold last August for £425,000.

Prentice, which has 68 people on its payroll, increased its turnover during the year from £29.2m to £32.3m.

The company's current assets increased to £878,715 and its debt decreased by £226,547.

These were the top-selling models in Northern Ireland during September:

1 Ford Fiesta

2 Volkswagen Polo

3 Volkswagen Golf

4 Ford Focus

5 Seat Ibiza

6 Renault Clio

7 Toyota Yaris

8 Hyundai Tucson

9 Renault Captur

10 Nissan Juke