The figures showed that used car like-for-like volumes rose by 9.8% in March and April, while Vertu out-performed the new car market average. Its new car sales saw volumes decline by 3.5% against a national retail market drop of 11.9%.
Forrester said that savvy buyers recognised that buying a newer, more fuel efficient car could help offset the continued climb in fuel prices.
“The new ones we are selling are phenomenally efficient. The switched on consumers know that modern cars are very efficient.”
The most important month for new car sales is March, when the registration plate changes. New private sales in March and April jumped by 9.1%, or 4.1% on a like for like basis.
Vertu said there was a “strong pipeline of potential acquisition opportunities”.
“We’d expect some more acquisitions this year,” said Forrester. I haven’t set any targets. We will grow in line with our management and financial capability.
“We are growing the size of our employment in Gateshead. We have 50 in our contact centre. The business is based in the North East and North East employment will grow in line with the business.”
The a full-year dividend of 0.6p per share is proposed, up 20% on 2011.