The automotive industry has encountered several challenges in recent years, yet a venerable car retail group has continued to flourish. Established in the 1920s, Hatfields has solidified its standing as one of the earliest Jaguar dealerships globally, and its most recent outcomes demonstrate impressive expansion.
Under the guidance of managing director Gareth Williams, the business established by Ernest Hatfield operates dealerships throughout Yorkshire, the North West, and Midlands, vending Jaguar, Land Rover, and Volvo brands. With roughly 400 employees, Hatfields has positioned itself as one of the largest independent Jaguar dealer groups in the UK.
In the recently submitted accounts for Wakefield-headquartered McLean & Appleton (Holdings), the parent company for the Hatfields brand, the company revealed a turnover of £378.6m for the year ending 31 January 2024, a noteworthy rise from £325.2m in 2022/23. Additionally, pre-tax profit escalated to £13.6m from £13.3m the previous year.
A primary catalyst for this success has been the surge in vehicle sales, which skyrocketed to £356.5m from £303.2m. The company attributes this increase to an upsurge in both new and used vehicle sales, coupled with an increase in average vehicle prices.
Gareth Williams reflected on the positive results, emphasizing that the improvement in the supply of new vehicles and the normalization of used cars significantly contributed to the company’s performance. He also underscored the growth and profit enhancement in the aftersales sector. Looking forward, Williams stated that Jaguar’s evolving nature will necessitate establishing new relationships with different brand partners, particularly in the context of the ongoing challenges associated with electrification in the market.
Despite the optimism for the future, Williams acknowledged the complexities surrounding electrification and the reluctance towards fully electric cars in the retail sector. Nonetheless, he expressed confidence in the company’s ability to navigate these challenges and remain successful in the coming years.
With dealerships in Hull, Liverpool, Pickering, Shrewsbury, and Wakefield, Hatfields has cemented its presence in key locations across the UK. As it continues to adapt to the evolving landscape of the automotive industry, the company seems poised to uphold its strong growth and historic legacy.