Acquisition of fledgling Hyundai car importership

Issues

• Stagnated revenues
• Stalling of market share growth
• Reduction in profitability

Actions

• New management team put in place
• Reduction in number of dealers from 280 multi-brand to 180 solus brand
• Invested in new standalone IT platform
• Negotiated improved terms from Korean supplier
• Implemented more efficient shipping and distribution model

Results

• UK market share growth from 0.5% to +1%
• Reversed decline in profitability
• Secured importership licence for 10 years

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