I work with the industry and OEMs around the country. May was...

I work with the industry and OEMs around the country. May was worst on record and APE are feeling it. New car sales are the big issue as they are low this means in 6 / 9 months workshop will slow up even more and most are at 50% of capacity some of the good brands are at 70% but very few at full capacity. This now means absorption figures drop and dealers start losing money each moth (already happening) Used cars sales have good GP but OEM wants their stock moved as factory keeps build them. Floorplan goes up as stock holdings grow this then leads to new stock becoming aged stock this then will start discount wars on already skinny margins.

IMO its not good APE have acquired many old dealers business's but not the land meaning rents high and hard to get returns.

Watch this space closely.

I would and shovel;d have bought at the lower price but must admit scarped myself off!