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Vertu Motors – warns with used car values recent months “record levels of monthly decline”… so why no update on trading until now since 4th October?

By Steve Moore | Thursday 7 December 2023

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Automotive retailer with a network of 195 sales and aftersales outlets across the UK, Vertu Motors (VTU) has issued a “trading update” including its three months ended 30th November “like-for-like used vehicle volumes fell 2.0%… an improvement on the 5.7% reduction in the first half” and it having been “delivering higher overall core gross profit generation from the sale of new vehicles year-on-year”. However, it also notes some “negative external market factors”. Uh oh…
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