Auto Trader sales motor ahead to ignore Brexit brakeComments Off on Auto Trader sales motor ahead to ignore Brexit brake
Car buyers ignored the EU referendum and kept flocking to the forecourts, helping Auto Trader to a big jump in sales.
The June vote had no impact on sales, the group said today, pointing to a poll of prospective buyers showing nine in 10 who said the vote would not stop them snapping up a new motor.
Higher numbers of people browsing its website and more cars advertised for sale combined to give an 11% jump in half-year revenues to £154 million.
“We have felt no discernible change in the competitive environment and no noticeable impact from Brexit to date,” chief executive Trevor Mather said.
Auto Trader, best known for its now-defunct magazine, has been transformed into a digital tech business.
Its shares are up 52% since it was listed on the stock market by private-equity firm Apax last March. The shares rose another 4% today to 401.8p.
The group has benefited from a surge in new car sales this year, which are on track for a record 2.7 million.