Porsche Retail Group took a hit in 2024 with pre-tax profits falling to £5.9m from £22m the prior year on turnover declining to £444.3m compared to £518.4m in 2023.
Return on sales fell to 1.1% from 4% the prior year, according to the filings at Companies House.
The accounts show that new car retail sales fell to 2,468 from 3,223 the prior year while used sales units were 2,096 (2023: 2,172).
“While the reduction in new cars was somewhat anticipated based on communications from the manufacturer, tough market conditions and logistical difficulties put additional strain on PRG’s performance.
“The decrease in new car volumes also results in a decrease in association used car volumes,” said managing director Adam Flint signing off the accounts.
Employee numbers increased to 352 from 338 due to the opening of hew new Destination Porsche Guildford centre and some new roles in its head office.
Porsche Retail Group expanded in May 2025 with the acquisition of Porsche Centre East London and Porsche Centre South London from Lithia Motor Group, using resources funded from PRG’s cash pool with Porsche International.
It said both businesses will require further investment in the showrooms and workshops to meet Porsche Retail standards and these refurbishments are included in the five-year business plan.
PRG also plans the redevelopment of Porsche Centre Hatfield in Q1, 2026.
