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John Grose Group turned in a strong performance in 2022 with pre-tax profits surging 33% to £8.3m on turnover ahead 18% to £187.8m.
In accounts filed at Companies House it said the increased turnover reflected demand beginning to recover to pre-pandemic levels but said changes made by Stellantis to its systems had led to ‘frustrations’ with the carmaker.
“It looks like the challenging economic climate we ae facing will remain with us for the foreseeable future and with it comes the pressures on the cost of living.
“During the year we saw continued inflationary pressures on new vehicle pricing as well as a continuation of the strength of used vehicle prices.
“Towards the end of the year there was evidence of consumer demand easing at the same time as manufacturer new vehicle supply improving.”
On the move to online it said vehicles sales were not moving as fast as the high street retail market.
“Whilst the pace of consumer change from physical to online has been rapid in the broader retail sector, vehicle purchases online has not moved as fast, due to the relative complexity and the emotional element of the buying experience.
“Our prediction that a large proportion of consumers want to continue to visit a showroom as part of the purchase experience has been the case.”
It said its staff turnover during the year was 17%, higher than usual because of the pandemic impact but better than the industry 30% average.
The group continues to support colleges and schools in Suffolk, providing vehicles for students to work on.
It also took parts in skills shows and supports the military. During the year it loaned six vehicles to transport aid to Ukraine and bring refugees back to the UK. This included £15,000 of crowd funding to pay for fuel and other transport costs.