The car retail group, HR Owen has revealed detail of its plan to develop a £29m Bentley, Lamborghini, and Maserati supercar site. The firm is among the oldest and best-known car dealers in the UK.
The £28m Hatfield development shows the company’s trust in the luxury car market. The site would be a great addition to the company’s portfolio of outlets. They have acquired the site for £10m and the facility is expected to be completed in the middle of next year.
Such things are not available in London, not to this extent, at least. But, we are not shifting our focus from London, as the customers love that site. We will give them a great option very soon.
Choo is confident that the luxury car market would stay strong for many years, even though Brexit and Covid-19 had negative impacts on the demand. He accepts there are challenges, but he is confident that the demand will stay strong in challenging times. He told us that the company contacted many customers who had placed orders for supercars. They thought the customers might be reluctant in purchasing the vehicle stating the recent pandemic has made them do so, but not one of them said anything like this. Nonetheless, it’s a cute car to move around in the city. It’s got a new platform and new engines.
In 2020, the company’s sales were down by 23% as compared to 2018, even though there were many new customers whose businesses were doing quite well during the pandemic. One of the reasons for the drop in sales was the influence of regular model cycles and another reason was a drop in demand. But, they were sure the marker would recover, as they were getting clear signs. From July to September, that’s the period after the first lockdown in the UK, the sales were quite high, and they got a brilliant result.