Lookers Share Discussion Threads

[debsdowner] 12/7/2019 10:31

tim3 correct.

f15

Surely new cars difficult to sell with low margins and second hand cars difficult to move due and heavy discounting equates to "cost pressures" !

That is my take of the matter.

[phillis] 12/7/2019 10:30

Well said Wyken!

[wyken] 12/7/2019 09:57

A real bargain
BUY

[f15jcm] 12/7/2019 09:52

Thanks debsdowner but the things you refer to seem to be pricing rather than cost pressures.

[tim 3] 12/7/2019 09:48

Excuse the pun but this looks like a car crash horrible update so many issues.

[robizm] 12/7/2019 09:30

At this price it could be a good investment over a few years. Interest rates are not going up anytime soon and they have a strong balance sheet and pay a divi.

[mabel 123] 12/7/2019 09:25

I'm not invested here but I know of someone who worked for them. Treat their staff appallingly from what I've heard and morale very low.

Salesmen recruited after 10 minute interview with no proper background checks, presumably due to the high turnover.Can imagine in the current situation even more pressure being put on staff and morale lowered even more.

How can a business survive when the management is poor?

Would you want to buy a car from such an outfit? I wouldn't.

mabel

[essentialinvestor] 12/7/2019 09:19

How can you make any assessment to the value of the company until the FCA
conclude their report?.

[blueball] 12/7/2019 09:12

Worth about 20p imo.

[debsdowner] 12/7/2019 09:06

f15

If you look into Pendragon the largest UK car dealer they reported a massive stock of used cars far more than the year before and having to discount heavily due to poor consumer confidence.

As for new cars, most cars are bought on finance and consumer confidence will affect the new car marker as well as vehicle emission uncertainty.

I agree with what pdoc says Brexit has also an impact.

Unfortunately Lookers is being hit from all corners notwithstanding from accounting issues and its best avoided at the moment despite management spin.

[escapetohome] 12/7/2019 09:02

The fools who got us into a third rate europe with no democracy and no control.

Creating inequality everywhere, on the streets, 20 people packed into a house. Its ok im tony blair im ok.

Im not against europe, but i would prefer to run from what its turned out to be .

[nikesh] 12/7/2019 09:02

Hi, is this a steal based on its net asset value and its p/e? Thanks

[pdoc] 12/7/2019 08:56

This is all Brexit and nothing else - it will get worse if that idiot drags the UK out. Pound down, import costs up; recession and car demand down further. What an irony the UK only avoided a technical recession when it was announced yesterday that a resumption of car production had increased output. Why had car production been suspended in the first place? Oh yes, Brexit uncertainty. For those hard Brexiteers, just remember that the warnings were there - crashing out with 'no deal' will cause havoc; there will be immediate recession and significant inflation. Pomposity from an American-born Etonian is not going to prevent that. For those who actually think Corbyn and his bunch of Socialist Worker / Workers' Revolutionaries nutcases are any near Downing Street than Michael Foot was in the 80s, then you have been hoodwinked - Corbyn does not have, and never has had, any chance of election. He is a moron.

[diku] 12/7/2019 08:55

Life had become too good then Brexit came along and business tails off...then how do you make the numbers look good...do some cooking...

[debsdowner] 12/7/2019 08:52

First accounting problems and now a profit warning avoid imo.

[f15jcm] 12/7/2019 07:54

Grim reading. Any idea what genetal retail cost pressures actually are?

[diku] 11/7/2019 21:40

Bring in those GL and GLX models...or LOOK will start selling horses...

[jimbox1] 11/7/2019 21:37

pdoc, when we leave, I suppose no one buy cars anymore. We heading for a Cuba-style time warp, where only pre-Brexit cars are available and they will last forever.

On the other hand, there will be an election. Corbin will get in, and we will be heading for a Cuba-style time warp...

[3800] 11/7/2019 20:18

It's been raining here today too, I expect you will blame that on Brexit. If we pull out of europe we cannot expect continenal weather can we?

[pdoc] 11/7/2019 12:48

Irrespective of the recent FCA disaster, every time a no deal Brexit looks more likely then these shares are hit. If the moronic back-stabbing nasty piece of sht Johnson does take us out then we have to kiss this goodbye. Lookers will be non-viable from a cost and revenue side. I recommend the hard Brexiteers have their crash hats ready - they will need them against the revenge to be exacted on each and every one of the cnts.

[mortimer7] 08/7/2019 10:14

I accept it's generally the sales dept revenue that is subject to FCA regulations, but
in most organisations ultimate responsibility for compliance (and most Admin) issues usually fall in the lap of the FD.

[gutterhead] 07/7/2019 10:21

Fca is a sales dept operational issue and not under remit of the FD
Market down 5% is irrelevant. It’s the pressure on margins that is the big issue.
If a car dealer sells 95 cars instead of 100 last year is nothing compared to margin being down by £3/400 per deal

[pdoc] 05/7/2019 16:14

My thoughts exactly. Gregson is the fall guy, the scapegoat, the patsy. Then again, we are currently right up sht creek and our paddles could soon be taken away by the FCA. the acquisitions just expose liability to a collapsing market - here's hoping T May and her fellow MPs in the Tory scorned club do prevent the clown taking us out with no deal.

[essentialinvestor] 05/7/2019 16:03

Questioned previously the sale of the parts division and what appeared an
aggressive acquisition strategy. Sad to see the current situation having held some
back in the day.

[mortimer7] 05/7/2019 15:54

Directorate Change....
Robin Gregson, Chief Financial Officer, will step down after 10 years in the role.

Got to wonder if he's the one paying the price for the FCA investigation issue.