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Lookers has been named as the best investment opportunity in Europe’s automotive retail sector.
The dealer group dominated the PriceWaterHouseCoopers European Automotive Shareholder Value Awards 2007, winning both the one and three-year categories in the European retail distributors sector.
PwC said the group achieved a return over a three-year period of 294 per cent in contrast to the sector average of 134 per cent.
Its one-year performance was 49 per cent against a 23 per cent sector average.
Fiat awarded
The accountancy firm said Lookers had shown that its mix of new and used car sales and a range of support service activities could deliver strong earnings growth.
Fiat won both awards in the carmaker category, with an increase of 95 per cent and 271 per cent on total shareholder value return over one and three-year periods.
That compared to sector averages of 38 per cent and 92 per cent respectively.
Strong performance
Christian Martin, PWC’s European automotive leader said: “European vehicle manufacturers, parts suppliers and retailers have all out-performed major stock market indices – many by a considerable margin.
“This should help to dispel the myth that the automotive industry is overall an unattractive option for investors.”
The annual awards recognise the highest total shareholder return over one and three- year periods ending 30 April 2007.