The motor industry is in recession, and not for the first time. Having worked in the industry for nearly 20 years I remember the boom years of the late Eighties and the gloom and doom years of the early Nineties. And while some businesses went bust, even during the hard times some made a profit.
So it was with a sense of dread that I read this week that the twelfth-largest dealer group in the UK, H R Owen, is reporting a pre-tax loss of £7.3m in the first half of 2005, against a pre-tax profit of £2.6m in the same period last year. H R Owen holds a portfolio of dealerships, largely luxury and prestige marques, many of which are located within the M25.
http://driving.timesonline.co.uk/art...815674,00.html
Milan.
So it was with a sense of dread that I read this week that the twelfth-largest dealer group in the UK, H R Owen, is reporting a pre-tax loss of £7.3m in the first half of 2005, against a pre-tax profit of £2.6m in the same period last year. H R Owen holds a portfolio of dealerships, largely luxury and prestige marques, many of which are located within the M25.
http://driving.timesonline.co.uk/art...815674,00.html
Milan.
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