26 May 2020 – re-opening of showrooms

The motor retailing group has announced that in line with the government’s recent announcement it will re-open its showrooms from 1 June.  The company closed its operations on 23 March and since then has undertaken comprehensive risk assessments of its sites, producing a detailed plan on how to re-open and ensuring that the company’s employees are fully trained in the new procedures.  The company’s aftersales activities are now fully open for business having previously focused on key workers and emergency services and initial demand is encouraging as these activities are ramped-up.  How much demand there will be for new/used cars remains to be seen but the shares have produced a useful rally of late and are probably no more than a HOLD until further evidence of progress has been seen.