John Grose weathered the headwinds of 2024 with pre-tax profits down -34% to £4.2m on turnover down 4% to £191.1m.
It said new vehicle supply was now more in line with consumer demand and depreciation had settled to more normalised levels.
“Despite the uncertainty created by the political turbulence during last year, the motor retail sector enjoyed steady growth in new vehicle demand.
“The industry has welcomed the review of the Electric Vehicle mandate legislation as the current demand is unlikely to deliver the ambition without government support.
But it said the task ahead was to boost retail demand for electric cars.
“The challenge for the sector now is, can the consumer demand be stimulated to meet the aspiration of the Government ZEV mandate,” it said.
John Grose was once again awarded the Ford President’s award in 2024 for outstanding customer service,
The company has a strong company and community culture. Staff turnover is less than 15% compared to the industry average of 30%.
The group provides vehicles to colleges and has students from colleges participating in work experience schemes. It also supported the Suffolk Futures Skills Fair at Suffolk New college in October last year.
During the year it loaned vehicles to transport aid from Suffolk to a London collection centre supporting Ukraine conflict. It also made two Electric Vans available for 12 months for two Ipswich charities.
John Grose has three Ford dealerships in Ipswich, Woodbridge and Lowestoft, as well as a holding the Kia franchise in Lowestoft, plus Peugeot, Citroen, Omoda and Jaecoo in Ipswich.
The group has been in the motor sector since 1888.
