Cambria sales slump masked by supercar margins
17th January 2019
THE company behind the new Tunbridge Wells Lamborghini dealership was hit by a decline of nearly a quarter in new car sales at the end of last year.
Cambria Automobiles, which opened the supercar dealership alongside its existing Bentley forecourt in November last year, has reported a drop in sales of new models of 24.9 per cent.
It has acknowledged that the market has been significantly affected by the introduction of the new Worldwide Harmonised Light Vehicle Test Procedure (WLTP), which was introduced last September in the wake of the VW emission testing scandal.
The fall in sales has been somewhat masked by a change in direction from the company that has now primarily targeted the luxury car market, which has higher margins.
Not only has the company invested in a new Lamborghini dealership in Tunbridge Wells, but also it is embarking on ventures with Aston Martin and McLaren in Hatfield.
“The gross profit per retail unit improved significantly in a total basis as a result of the stronger mix from the new franchised outlets representing Bentley, Lamborghini and McLaren,” the group said on a trading statement.
“Group profit per unit also improved on a like for like basis over the same period and the overall impact of the improved profit per unit mitigated the reduction in sales.”
Used vehicles also suffered a 10.5 per cent decline in sales, but the company said aftersales operations had delivered a ‘good performance’ with revenue increasing by 1.9 per cent and like for like sales by 2.6 per cent, resulting in a year-on-year rise in gross profit of 6.5 per cent.