PWR lifts revenue but …

AutoExec Summary
Peter Warren Automotive Holdings reported a 19.4 per cent increase in revenue but a 30.6 per cent decrease in profit due to higher costs and lower margins, primarily in its new-car business. The company attributed the revenue growth to acquisitions and organic growth. Interim CEO Paul Warren mentioned that increased vehicle supply led to higher inventory holdings and lower new-car margins across the industry. Despite the profit decline, PWR delivered record vehicle volumes and reduced order bank levels. The company posted a revenue of $2.475 billion for FY24, with a focus on margin initiatives and cost management. PWR also expanded its dealership portfolio to drive future growth opportunities.

Brands mentioned: Audi, Mazda, Nissan, MG, LDV, Toyota, GWM