Peter Vardy sees record sales and profits in 2021

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Peter Vardy has reported document gross sales and income within the yr to 31 December 2021.

Turnover for the Group reached £572m and generated income of £26.1m from the mixed three companies, Peter Vardy Holdings Restricted, CarMoney and SilverBullet.

This supplied an equal return on gross sales of 4.6%.

Peter Vardy, group chief govt, mentioned: “2021 represented a major yr of change as we determined to finish our profitable partnership with Vauxhall after 15 robust years of working collectively.

“In July 2021, we remodeled our six former Vauxhall websites into used automotive supermarkets and underwent a full rebrand shifting from Peter Vardy CarStore to Peter Vardy CARZ. This variation considerably elevated our Peter Vardy model illustration all through Scotland.

“The yr was unprecedented additionally for used car gross sales and margin, with used vehicles appreciating in worth month on month and demand at an all-time excessive. We seized this chance by empowering our centralised inventory shopping for groups and launching our GoodBye Automotive product, buying autos instantly from customers. These actions resulted in our used car turnover rising by 59%.

“Though 2021 continued to be a turbulent yr for brand spanking new automotive provide and supply, nevertheless, it proved an especially profitable yr for the Group by way of new automotive order take and securing the long run income and success of the enterprise.

“Our CarMoney finance brokering enterprise delivered a document monetary efficiency, in its fifth yr of operation, rising turnover by 125% and producing a return on gross sales of 24.1%.

“Throughout 2021, CarMoney brokered over £97m of loans to prospects all through the UK. The Group is prioritising the expansion of the CarMoney enterprise as a part of its 2025 technique on account of vital alternative for progress and to maximise the return on its investments.

“Our SilverBullet know-how enterprise has been instrumental within the Group’s digital technique, delivering vanguard know-how options to permit used vehicles to be offered absolutely on-line and delivered on to a shopper’s door.

“In December 2021, we offered the extremely profitable enterprise to Keyloop to permit the product for use by customers and sellers worldwide.

“Mobility is intrinsic to our 2030 technique and in 2021 we launched our new mobility division, which included the launch of our Peter Vardy Leasing enterprise, for which we’re aiming to lease 15000 new autos to friends as a part of our preliminary five-year plan.”

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