Monday, November 29, 2021

Derby VW dealership blames emissions scandal and diesel controversy for poor performance

Volkswagen car dealership Parkway Derby has blamed adverse publicity over Diesel engines  and the ongoing VW emissions scandal as performance at the firm spiralled in the latest trading year.

The company, based in Pride Park, saw pre-tax losses spiral to £5,569 compared with a pre-tax profit of £1.9m in the previous year. Turnover also fell from £149.7m to £138.8m.

A spokesman said: “2016 proved to be a very challenging year. The new car market being extremely competitive with manufacturers fighting for market share.

“This impacted the profitability significantly as gross margins were squeezed and volume-related bonus targets being difficult to achieve.

“The adverse publicity of the diesel engine and the VW emissions disclosure affected both new and used vehicle sales across the group negatively, resulting in a decrease in turnover.

“As a business, Parkway continues to look at ways to maximise on its returns, through strong management and leadership, whilst constantly reviewing the business, its performance and its opportunities.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.

Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.