Peter Warren Automotive trading update

Peter Warren Automotive Holdings (ASX:PWR) has released a trading update for the first half of FY25. The company expects a profit before tax of $6 million to $8 million. This is due to challenging industry conditions including an over-supply of new vehicles and reduced consumer demand.

Peter Warren Automotive's strategic response

Peter Warren Automotive Holdings (ASX:PWR) is facing a challenging first half of FY25 due to industry conditions affecting their financial performance. The company anticipates a profit before tax of $6 million to $8 million, impacted by an over-supply of new vehicles and decreased consumer demand. To counter these challenges, Peter Warren is implementing strategic initiatives. These include increasing revenues from services and parts, enhancing used car sales, improving finance and insurance outcomes, and optimizing inventory levels. They are also aggressively pursuing cost reductions while maintaining strong customer service and a robust balance sheet. Looking ahead, the company remains committed to exploring longer-term growth opportunities and leveraging its extensive franchise operations across Australia's eastern seaboard.

CEO Andrew Doyle's insights

The management team has extensive experience in navigating market cycles and is focused on driving growth and cost efficiency.