Published: 09:00, 02 January 2018 |
Updated: 09:47, 02 January 2018
A car dealer said consumers appear to have put Brexit concerns behind them after it enjoyed a “steady year of trading”.
Hidsons, which has showrooms in Northfleet and Rainham, increased turnover by 3% to £45 million in 2016, although pre-tax profit slipped 9% to £115,000, according to its latest accounts.
The business, which employs about 110 people, reported a strong year for Kia, with sales targets met or exceeded every quarter.
The same was true for its SsangYong operations, where the company “again finished within the top few dealers in the UK and receiving a regional sales award in January 2017 for the 2016 performance”.
However, Mitsubishi sales fell in the second half of the year when government grants on electric vehicles were halved.
International Motors decided to stop importing its Great Wall cars into the UK but this had a negligable impact on the sales business. The company continues as an aftersales outlet for the brand.
In his company report, director Nigel Hidson said: “Overall a steady year with good profitability in the first half and a slight drop-off in the second, mainly due to the electric vehicle grant reduction.
“It’s quite possible that fears about Brexit also played a part but a flying start to 2017 seems to have consigned these fears to history.”
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