By reading our recent analysis of the motor retail industry, it's clear that this sector is shedding its reputation as a cyclical business. The advent of personal contract purchases (PCPs) - effectively flexible finance loans - means customers are less gun shy about vehicle purchases, and makes motor retailers much more resilient in the face of a possible economic slowdown. This is something Marshall Motor (MMH) boss Daksh Gupta agrees with, and something he says gives him a degree of confidence for the future, particularly post-Brexit.
MMH's first-half results were good, even when benefits from the group's latest acquisitions are excluded. On a like-for-like basis, new car sales rose 3.2 per cent, used cars by 0.9 per cent and aftersales revenue by 6.3 per cent.