The Volkswagen emissions scandal will have its beneficiaries as well as its victims, and car retailers will be among the former if you believe the boss of Vertu Motors (VTU). For the four VW brands, which account for about 9 per cent of Vertu's sales, chief executive Robert Forrester says he has seen "no significant decline" in sales volumes or used car valuations. Indeed, he thinks vehicle recalls could actually boost Vertu's already thriving aftersales division.
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In the first half of the financial year, like-for-like sales rose 3.7 per cent, with the higher-margin service area posting 6.2 per cent growth on the same basis. Aftersales gross profit also rose 14 per cent to £51m - a "real achievement", says Mr Forrester.