Revamped Land Rover drives back into fashion in boost for Marshall MotorsComments Off on Revamped Land Rover drives back into fashion in boost for Marshall Motors
The Land Rover is making a comeback following years of having its environmental credentials smashed, and is now one of the best-selling car brands in the UK, according to the boss of Marshall Motors.
Daksh Gupta said improved interior styling by Victoria Beckham, along with better mileage, has helped sales rise after struggling for years.
He explained: “The Land Rover is red hot right now, but five years ago Land Rover dealers lost a fortune because of climate-change discussions and no one wanted to be seen driving a Chelsea tractor. Now if you look at the product styling they have done a fantastic job.”
The boost helped Marshall Motors, which joined the stock market in March, increase its revenues by an impressive 16% to £623.5 million during the six months to the end of June in its maiden set of results.
Pre-tax profits were up 9.8% to £10.5 million thanks, in part, to an increase in aftercare sales, where margins are 44.8%.
This was despite a £4.4 million hit from bankers’ and lawyers’ fees for bringing the company to market.
The Marshall Motors boss added that new-car sales were particularly strong — with 18,195 sold in the period across its 63 sites — due to the strong pound and weakness elsewhere.
He said: “There are a number of overseas markets that are cooling. China has dropped, Brazil is forecast to drop, Russia is set to fall.
“The manufacturers need to divert that stock somewhere, so with a strong sterling and low interest rates they are coming here and it’s encouraging people to buy cars.”