Last month, car dealership group Pendragon revealed that it made a pre-tax profit of £1.3 million in 2009, rising from the £194 million it recorded the year before.
Speaking to the Daily Telegraph, Pendragon chief executive Trevor Finn said that customers are opting for new Jaguars, BMWs and Audis because of low financing costs and price of second-hand models being driven up a lack of old cars.
He also claimed that the premium car market experienced an early slump in the recession because most purchases are 'discretionary' and made by heads of firms, but sales are now heading towards healthy levels.
Mr Finn added the 'market will remain difficult in 2010', but car companies still have the opportunity to drive business and make a profit.
Pendragon is the largest independent franchised motor car dealership in the UK and operates more than 300 outlets.
Speaking to the Daily Telegraph, Pendragon chief executive Trevor Finn said that customers are opting for new Jaguars, BMWs and Audis because of low financing costs and price of second-hand models being driven up a lack of old cars.
He also claimed that the premium car market experienced an early slump in the recession because most purchases are 'discretionary' and made by heads of firms, but sales are now heading towards healthy levels.
Mr Finn added the 'market will remain difficult in 2010', but car companies still have the opportunity to drive business and make a profit.
Pendragon is the largest independent franchised motor car dealership in the UK and operates more than 300 outlets.
