26 May 2017 (AFR) – Big car dealers AHG and AP Eagers downgrade profits

(26 May 2017, AFR, p27, by Simon Evans)

‘Australia’s two big listed car dealership firms have downgraded profit forecasts in the last 24 hours because of slowing new vehicle sales, in a troubling sign for the broader economy. Automotive Holdings Group warned on Thursday morning that softer trading in April on the previously strong eastern seaboard, a weak Western Australian market, and tightening consumer credit conditions in the automotive financing sector had been behind the slowdown. It runs 109 dealerships in NSW, Victoria, Queensland, Western Australia and New Zealand, and a refrigerated logistics division.‘

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