Supercar dealer Tom Hartley Junior makes £11.3m profit from selling just 102 cars – Car Dealer Magazine
, 2022-12-08 02:09:00,
Supercar and classic car dealer Tom Hartley Junior clocked up £11.3m profit before tax from selling just 102 cars.
The luxury car dealer, based in Ashby De La Zouch, specialises in classic cars and sells them all over the world.
Current stock at the dealership includes a 1965 Ferrari 275 GTS, a 1960 Aston Martin DB4GT and a 1973 Ferrari Dino.
In accounts just filed at Companies House, Hartley Junior reports his dealership turned over £114.9m in the year to the end of April, 2022.
He sold 102 cars and chalked up operating profit of £11.3m.
In the previous year, turnover was £104m and profit was £6.5m.
Sales volumes fell from 107 cars in 2021 to 102 in 2022 – a drop of five per cent – however the business made more money, with its operating margin up to 9.9 per cent.
The annual report said: ‘The principal activity of Tom Hartley Jr Limited is the acquisition and sale of classic cars alongside an inventory of modern supercars.
‘The business model is very different to most competitors due to the fact that the company aims to buy most of its inventory, compared to just brokering cars like many others who operate at this end of the market.
‘This enables Tom Hartley Jr Limited to potentially earn a greater gross margin as they bear the full risk, however due to this inherent risk element the director’s market knowledge on the particular cars and gut feeling of the market is very important.’
Tom Hartley Junior – son of supercar dealer Tom Hartley –…
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