Pendragon has been hit by recent new-model sales affecting secondhand.....but the fact remains that in any downturn, non-essential purchases are put-off.
-That applies to extensions, kitchens, and cars.
If you can keep your car a couple of years (longer), that will save money.
- If Bosses are trying to restrict wages, they cannot change their company car!

Any views on this business - perhaps from Car-Buyers who know them?

do people buy cars, leasing is very popular these days.

Still undervalued very much so.

Possible break out.

Bought some earlier today, been going well recently.

44p is the key.

Good figures out.

Broker Upgrade......

RESEARCH ALERT-Pendragon: Jefferies raises target price

28 Oct 2013 - 07:27

Oct 28 (Reuters) - Pendragon PLC : * Jefferies raises target price to 47p from 40p; rating buy For a summary of rating actions and price target changes on European companies: Reuters Eikon users, click on [RCH/EUROPE] Reuters 3000Xtra users, double-click [RCH/EUROPE] Reuters Station users, click .1580 ((nyc.equities.newsroom@reuters.com); (Reuters Messaging: saqib.ahmed.thomsonreuters.com@reuters.net) ((Bangalore Newsroom +91 80 6749 1130; within U.S. +1 646 223 8780))

Pendragon sees profit uplift on new car sales growth

28 Oct 2013 - 07:59

(Adds details) LONDON, Oct 28 (Reuters) - Car dealer Pendragon expects full-year profit to beat market expectations as new car sales continued to rise in Britain, bucking the negative trend across much of continental Europe. The company on Monday said the volume of new car sales rose 15.6 percent in the first nine months of 2013, with an 8.9 percent uplift in used car sales. The owner of the Stratstone, Evans Halshaw and Quicks dealerships said website visits were up 23.5 percent over the prior year for the nine months ended 30 September 2013. "Profitability in 2013 is expected to be materially ahead of expectations for the full year and we are cautiously optimistic about the prospects for 2014," said Chief Executive Trevor Finn. "Market conditions have been favourable this year, whilst the outlook to next year remains promising." Prior to Monday's trading statement the company was expected to report an average full year pretax profit of around 41 million pounds ($66 million), according to Thomson Reuters data. ($1 = 0.6186 British pounds) (Reporting by Rhys Jones; Editing by Brenda Goh) ((r.jones@thomsonreuters.com)(44)(20)(7 542 4166)(Reuters Messaging: rhysl.jones.thomsonreuters.com@reuters.net)) Keywords: PENDRAGON/

http://www.sharesmagazine.co.uk/news/pendragon-steps-on-the-gas#.Um5sZMU8H2A

market conditions are getting tough.

UPDATE 1-Website hits help push Pendragon profits up 100 percent
* H1 pretax profit up 99 pct to 33.2 mln stg * Underlying revenue up 2.7 percent to 2.07 bln stg (Adds details on website traffic, expansion, background) LONDON, Aug 5 (Reuters) - Britain's largest car dealer Pendragon PDG.L saw its profits rise 98.8 percent in the first half of the year with increased online visits helping push up used and new car sales. The company said 8 million people visited its website in the first six months of 2014, a 16.2 percent rise on the same period of last year, also helping to bolster its aftersales services. Pendragon, which runs more than 250 retail outlets and trades under the names Stratstone, Evans Halshaw and Quicks, saw profit before tax rise to 33.2 million pounds ($56 million) in the six months to 30 June 2014. "The internet transformation of our business continues to yield sizeable benefits for the group," said Chief Executive Trevor Finn in a statement. The group has focused on improving its online presence in recent months, with high-definition videos of selected vehicles allowing customers to peruse online before often visiting a dealership in person to make their purchase. Underlying revenue at the dealership rose by 2.7 percent to 2.07 billion pounds and Pendragon said it expected its full-year performance to be "comfortably in line with expectations." Tuesday's results are also a further sign of Britain's buyout car market, with new vehicle sales expected to hit 2.4 million in 2014, up more than 6 percent on last year and returning to levels seen before the 2008-09 financial crisis after, which they nose-dived. Pendragon said it was continuing with its strategy to increase the number of outlets it has across Britain. In February, Finn told Reuters he was eying expansion in cities including Bristol, Ipswich and Norwich, where the company would open dealerships if the right opportunity arose.

Another car outfit worth looking at maybe, anyone traded them?

They are half the price of Jan-2016, so I guess the Car-buying Public are waiting to see if Electric is the answer ( which it isn't until a 10x improvement ).... and Today Mayor of London slaps an extra £10 on cars more than 10years old, in addition to the "congestion charge"....Congestion largely caused by too many cycle-lanes used by few cyclists who prefer the pavements.... it appears. The additional pollution created by Uber-drivers roaming for pick-up, can't help either.
PDG has been n a range about 40p for some years . . so this dive to 23p after Profits Warning, is likely to affect other Car-groups . . . as any diesel car they hold will be a wasting asset as the Public has come round to realising it was a bad PR stunt . . . as anyone behind a diesel car know only too well... ( Although much better than 25years ago )..... Petrol cars appear to be included in this Pollution-madness IMHO.... and the flat-earthers are saying we should work nearer home, so we can walk.... Oh deary... and exactly how many jobs are within walking-distance? Er, and how did you get to the Broadcast Studio? Now take this photocopier to another branch studio in Birmingham... and stop dallying on your bike.
EDIT-(24Oct2017)-22.5p that's a further 5% down . . . what about PW in 3's...more to come...Oh Deary.
Cynic - of course you do, a rich man walks into the showroom to buy his Mrs a car...she falls in love with one at the front in her favourite colour which the Salesman assures is the colour in fashion- and hasn't yr wife got good taste? No doubt enhanced by the Sat-Nav upgrade, for central Africa and TV screen in the back to amuse the (grand)children. Sir will be paying cash or turning in an old motor? ( Either way he'll likely not get much discount, by the time the deep mats....phone-holder and other such "Extras" at £200/pop. The total come to £30k and includes the first service free ( where they cover the seats with plastic and wipe the door-handles with an oily rag, so you know it's been "looked at" . . .).
You think there isn't a "profit" there? The garage is making maybe 50% on any extras and they'll make maybe 20% on the Retail of the Car.... I'll agree these aren't huge amounts...but the same Staff+ Showroom will repeat this nearly every day.
What surprises me is that anyone pays the full-price, when it loses a Third as soon as it's driven . . . and is half the amount paid within 3-years. If it was a Diesel, then that's likely halved in 3 years.... also, no-one will be buying diesel, fearing their nearest Big-town will become the next Charging-zone.... So any Gge. with a stock of Diesels had better offer a good discount...and even then I'm not sure... as you'd be seen by friends as someone who pollutes...and-or can't afford the Retail Price of a petrol, ....Nowadays: for Petrol substitute Electric, when the North Circular has charging-points every 25 yards.... in a year or so, at whatever cost so the Gov. is greener than a lawn.
Are you a cyclist, perhaps...?

i have never understood how garages ever make a proper profit and have never bought - and assuredly shan't do so now!