However, when looking at this figure more closely, there is a clear trend that the age of the vehicles in increasing. Older vehicles will typically need more “aftersales” and this creates a big opportunity for Pendragon. Source: Pendragon Although aftersales only accounted for less than 10% of 2012 total revenue it was the most profitable segment, with gross margins at over 61% . If this area sees revenue growth over the coming years then Pendragon’s earnings, driven by high margins, should also grow. New Car Sales & Used Car Sales Car sales are cyclical; consumers and businesses often delay purchases in times of economic downturn, instead waiting until their economic situation has improved, or that they simply cannot hold off the purchase any longer. There are signs which support an improving economic backdrop in the UK. Recent unemployment figures showed unemployment had unexpectedly fallen to 7.7% in the UK and it was also reported that the number of people claiming Jobseeker’s allowance fell to its lowest levels since February 2009 . UK Consumer Confidence has also been trending upwards, partly driven by increased hiring and also rising house prices, which creates a wealth effect. Rising consumer confidence is indicative of consumer spending. (click to enlarge) Source: Trading Economics UK Business Confidence is also improving. This should signal two things; unemployment may continue to fall as businesses have the confidence to invest in staff and fleet sales may increase as fleets are upgraded, again stimulated by UK business’ increased confidence about the economic outlook. (click to enlarge) Source: Trading Economics Another driver of new car sales is the aging car fleet. Within the UK the average age of a car was reported to be 7.44 years , which was an increase of two months on the previous year.
UK Tracks Of The Week: Rival, Ashley Walters, CAS, LB
Far from becoming a public relations disaster, the show seems to have been aboon to the struggling northeast economy. Newcastle-area hotels and travel agentsreported a fourfold increase in booking inquiries a year after Geordie Shorepremiered, the Independent reported. Filming on the most recent season was suspended in July after cast members VickyPattison, 25, and Holly Hagan, 20, were arrested for assault following a bar fight inwhich an 18-year-old woman was allegedly struck with a stiletto heel. Art Basel gathers works from around the world for its annual shows. Photo Jaume Plensa’s “Tel Aviv Man” at Art Basel, the worlds premier trade fair for leading galleries and collectors focused on modern and contemporary art. – [/] Photo The front of the Art Basel building. This years show attracted 303 of the worlds top galleries from 36 countries, showing the works of more than 2,500 artists. It drew more than 62,000 visitors, a new record. – [/] Photo Platform Gallery’s Chen Wei and one of his “Recovery Room” series at Liste Young Artist’s show. By the time the week was over he had sold more than 10 works, with prices ranging from $1,800 to nearly $3,000. – [/] A performance spectator admires some of the pieces at Basel Art. – [/] Photo A performance piece at Basel Scope, done by an unidentified nearly naked man who moved in slow motion up and down the aisles dressed like a Greek version of Mars, the god of war. – [/] Photo A performance piece at Scope. The man clutched a staff, on which a plastic container for motor oil with the BP logo was impaled.
PHOTO FROM GOV.UK MANILA, PhilippinesThe UK Minister of State for Trade and Investment expects bilateral trade between the Philippines and the United Kingdom to double within the next five years. Lord Stephen Green of Hurstpierpoint said in a briefing on Tuesday that this could be achieved by encouraging British businesses to look at opportunities here and encouraging Filipino businesses to look at opportunities [in Britain] through trade missions. In two weeks time, there is a Filipino trade mission going to the UK and were hoping that there will be a big number of Filipino businesses joining that trip. The purpose of this is to look for opportunities in Britain, Lord Green said. This is a two-way thing. I think we can look at doubling trade in both directions. Doubling [trade] should not be an unreasonable challenge and we expect to achieve that over a five-year period, Lord Green added. Data from the British Embassy in Manila showed that two-way trade of goods and services amounted to about 1.2 billion in 2012. Total UK exports of goods and services to the Philippines rose by 13 percent to more than 550 million last year. In the same briefing, Trade Undersecretary Ponciano Manalo Jr. noted that there were products and services in four sectors that the Philippines could offer to UK firms. These are in the areas of business process management (BPM), automotive parts, creative services and processed and consumer-packaged food. At present, more British companies are expanding and entering the Philippine market. Among the recent successes are the launch of mens wear brand TM Lewin, the opening of the new Bentley showroom, the entry of Rolls Royce, the start of deliveries of new Airbus planes with major British components under the $7-billion deal with Philippine Airlines, and the tender won by GlaxoSmithKline for the supply to the Department of Health of pneumococcal vaccine this year. A number of British companies are also doing well in the Philippines, including Unilever, Shell, HSBC, Standard Chartered, Pru Life, De La Rue, GSK, Arup and Halcrow.Amy R.
Who needs Snooki? UK has its own ‘Geordie Shore’
Artists include Rival, Ashley Walters, Cas, and LB. Rival Feat. Double S & Mercston “I Remember” East Londons Rival calls on two of his grime buddies, Double S and Mercston, to assist him on his new club-friendly jam, “I Remember.” Over a thumping garage beat, the three MCs reminisce about the good ol days of grime. Long may it live! Ashley Walters Feat. J Spades & Chip “Trouble (Top Boy)” To celebrate the last episode of the recent series “Top Boy,” Ashley Walters who plays a leading role in the much-viewed British drama released a track and net video called “Trouble (Top Boy).” The head-bobbing hip-hop number about being, well, a top boy, features one of those catchy J Spades hooks ( you know the ones ), and a few words from Chip. CAS “You Might Be Scared” MF DOOM is no longer the only masked one in hip-hop. North London’s CAS has a face mask that resembles something out of a horror movie, which kinda works well with his bizarre visuals and equally bizarre bars. The rapper lets us view today’s society through his eyes on “You Might Be Scared,” and he has a strong message for all of the lazy ass UK politicians out there. LB “Premonitions” LB could very well be the one to put west London on the UK rap map. “Premonitions” sees the monotone-flowing spitter looking into the future of his life, with a strong focus on his music career.