Lookers boosted by strong September

29th Oct 2010 14:09

Car dealer Lookers will beat market forecasts this year after both sides of its business enjoyed a strong third quarter.The critical month of September was buoyant, it added, and consequently group results for the three months and the nine months are ahead of both budget and the prior year. The motor division benefited from new vehicle volume sales growth in excess of the 7.8% increase in the UK new car market. Used car volumes increased by 8% in the third quarter, compared to last year, and margins continue to be at satisfactory levels. Aftersales revenue rose 2%."The strong performance from both the parts and motor divisions, combined with our reduced cost base and strengthened balance sheet, give us confidence that we will continue to trade successfully for the rest of the year," said chief executive Peter Jones.