Car dealership group Peoples is ending its 42-year stint of exclusively selling Ford vehicles as it plans for expansion.
The company will extend its portfolio to include Chinese brands BYD and OMODA/JAECOO at five out of its six outlets while continuing to offer Ford products.
Peoples reported a 7.6% decrease in turnover and a 32.9% decline in pre-tax profits before preference share dividends, according to the annual report for the year concluding on 31 July 2024. Half the group's outlets are in the North West, and all those outlets will welcome new brands.
Chairman Brian Gilda said: "This is an exciting new era for Peoples as we introduce new global brands.
"Change, or becoming different, is fundamental to our wellbeing and long-term success, and we are excited by the growth opportunities our new Chinese partnerships will bring.
"While it's disappointing to see our figures down, it's certainly not surprising – a similar pattern is being seen across the industry."
He attributed the downturn in Ford passenger vehicle sales to reductions in the Ford passenger car lineup and noted that used car sales suffered from fluctuating values, reports .
Nonetheless, Gilda added, "However, our commercial vehicle results were outstanding and our aftersales results were record-breaking."
The integration of new Chinese brands into Peoples' offerings is proceeding apace, with BYD already making a successful debut in January this year, marked by the popularity of models like Atto 3 and Seal. The OMODA/JAECOO range was subsequently introduced in September.
In the North West of England, Bootle will provide Ford cars and commercial vehicles, as well as BYD, whereas Speke will host Ford cars and commercial vehicles plus OMODA/JAECOO, and Prescot will carry Ford cars and BYD.
In Scotland, Edinburgh is set to feature Ford cars and commercial vehicles, alongside OMODA/JAECOO, with plans afoot to invest in a flagship showroom to display the brand prominently in the capital. Livingston will continue its association with Ford, while Falkirk will exclusively offer OMODA/JAECOO.
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