Car retailer Motus expects 2022 earnings to more than double as sales increase
Higher sales to dealers, outright sales to car rental firms and increased selling prices are driving performanceMotus, the retailer of the BMW, Mercedes-Benz and Volvo brands, expects a jump in headline earnings in its 2022 year as it increases its supply of fleet vehicles to car rental companies and demand for new vehicles rises.
“The liquidity position remains strong, supported by significant unutilised banking facilities and favourable foreign currency forward cover.” In a trading statement on Thursday, the company said there was a higher demand for new vehicles in the reporting period because of an erratic stock supply and it benefited from increased margins.
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