Pendragon’s average used car price up by almost a third but inflation hits profit

A Pendragon showroom

(Picture: Pendragon)

Car dealership Pendragon revealed a rise of almost a third in the selling price of a used vehicle as supply shortages and inflation provided the “backdrop” to trading in the first half of the year.

The operator of the Evans Halshaw and Stratstone brands said the average price of a used car reached £18,965, up 32%. Its underlying profit fell by almost 5% to £33.5 million after underlying cost increases of almost £21 million.