Peoples is to expand beyond its 42-year history with Ford to include Chinese brands BYD and Omoda/Jaecoo across its dealerships in Scotland and England.
In 2022, Peoples said it was considering new car retail franchise partnerships after years of solely representing Ford. At the time Brian Gilda, chairman of the Falkirk-based AM100 car retail group, suggested that the UK’s economic uncertainty, Ford’s shifting business model and the challenge of transitioning long-standing customers of the now- discontinued Fiesta into a new car had all played a part in the decision.
Announcing its latest financial results which saw a 7.6% drop in turnover to £283.449m and pre-tax profits falling from £7.255m in 2023 to £4.604m, Gilda cited these figures as the reasoning behind the strategic shift despite strong performances in commercial vehicles and record-breaking aftersales.
Login to continue reading
Or register with AM-online to keep up to date with the latest UK automotive retail industry news and insight.
