Andrew Page Targets Japanese and Korean Car Markets
One of the UK’s largest distributors of auto parts, Andrew Page has further bolstered its leading reputation with the acquisition of a rival firm based in the Midlands. With the merger, Andrew Page is set to enhance its exports market with particular emphasis on China and the Far East. The company has purchased Solid Auto (UK), a firm with over 25 years of experience and success in the vehicle parts sector. Since its inception, Solid Auto (UK) has remained at the front of the Japanese and Asian vehicle components market. The company boasts expertise in a wide range of products, including: filters, braking, transmission, cooling, electrical, engine and steering, and suspension components. Andrew Pageâs acquisition of the firm therefore marks the companyâs commitment to those two key markets overseas. Japanese and Korean cars currently make up over a fifth of the UK car market â making parts manufacture and supply highly lucrative. Jim Summer, Chairman of Andrew Page is delighted with the purchasing of Solid Auto (UK) and said it is a further positive step toward its ambition of becoming the first choice suppliers of Japanese and Korean car parts. Mark Price, Managing Director of Solid Auto (UK) also said he was confident about the future, and believes there will be significant benefits to be had with the merger for both firms. Andrew Page currently has a strong presence in the UK, as well as the US and Europe. The company is now looking to diversify its client base and open up new opportunities. The company has already reported accelerated growth last year with a significant hike in sales. In fact, Andrew Page has suggested as much as a 12% increase in turnover is evident within its account figures which are as, as yet, unfiled. Mark Saunders, Chief Executive of Andrew Page was keen to stress that such success was owing to a concentrated investment strategy worth millions of pounds. Last year, the company invested £15m, much of which was spent on upgrading and enlarging its distribution fleet (which now stands at 500). Over £1m was also spent on improving its communications systems. Itâs clear to see why Saunders is optimistic about the future.
12-Year High For New Car Registrations
The UK is currently experiencing a 12-year high for new car registrations. Last month more than 83,000 new vehicles made their way onto UK roads, an increase of 8.4% compared to February last year. The figures, which were released by the Society of Motor Manufacturers & Traders, were due, say commentators, on an increased demand from private buyers. Indeed, the increase within the private buyer market was up 22.6% compared with the same period in 2015. The news comes only a day after 75% of SMMT members stated that if the in-out referendum on the UK’s membership to the EU was held now, staying “in” Europe would be the best for British-based businesses. The boost in sales also saw green vehicles enjoy their fastest growth with 2,221 alternative-fuelled cars registered. That’s nearly 20% higher than last year. Petrol and diesel car registrations accounted for just over 81,000 sales, more than 10% and 5% higher respectively on sales in 2015. The only fall occurred in the fleet-car market where demand decreased by 1.4%. However, the sector still accounted for more than half of new registrations. Of the new models registered in February the most popular model was the Ford Fiesta (4,507 new cars were registered). The Volkswagen Golf, fighting back after its recent poor press because of the emissions test debacle, was a distant second but still recorded over 2,500 units sold. Ford enjoyed further success with the big-selling Focus while the Nissan Qashqai and Vauxhall Corsa also saw strong sales. Certainly, it has been a successful year all-round for the car manufacturing industry. The 253,073 cars registered to date add up to a 4.7% increase on last year with alternative-fuelled cars showing the biggest growth. Month-on-month car registrations continue to spike ahead of the plate change in March. February is typically a quiet month, said SMMT chief executive Mike Hawes. He noted that the “positive performance” and “encouraging” results puts the sector in a prime position for the coming year.
