Vertu Motors overcomes lockdown challenge

car sales

Motor dealer Vertu Motors (LON: VTU) performed admirably in the past year, given that it was not able to open its showrooms for an extended period of time. AIM-quoted Vertu Motors has prospered because of its online offering and customer service. Trading in the first two months of this year has been impressive even though the dealerships did not open until the last three weeks of the period.

Deals can be done purely online but most involve telephone contact. Potential buyers have the option to reserve a vehicle by paying a deposit of £99 and most do end up buying.

Vertu Motors has a strong, asset backed balance sheet and it is in a good position to take advantage of opportunities for further acquisitions.

Last year, Vertu Motors bought a portfolio of 12 BMW and Mini dealerships, ...

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Andrew Hore is the publisher of AIM Journal, which is an online monthly publication covering the Alternative Investment Market.