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Auto Trader warns of impact on volumes from fresh lockdown restrictions across UK
StockMarketWire.com
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Digital automotive marketplace Auto Trader said government-imposed lockdown restrictions across the UK were expected to impact volumes in January and February.
In the third quarter - October to December 2020- demand for car buying had remained strong, with visits to its marketplace 20% above prior year levels, but sales volumes were expected to be impacted in January and February, the company said.
The company also said it expected to record a £5 million to £7 million operating each month loss owing to its decision to offer customers advertising packages for free in December 2020 and February 2021.
The government's announcement on 4 January increased the level of COVID-19 restrictions across the UK and had once again forced all car retailers to close their showrooms, it added.
Story provided by StockMarketWire.com
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