November 9, 2017 / 7:31 AM / a month ago

UK dealership Lookers says car firms reducing targets in Britain

LONDON, Nov 9 (Reuters) - British car dealership chain Lookers said on Thursday that major carmakers were reducing their targets and boosting incentives in Britain as new car sales look set for their first annual decline since 2011.

New car registrations have fallen for seven months in a row, according to industry data, hit by weaker consumer confidence and uncertainty over possible future levies on diesel cars.

“Our key manufacturer partners recognise the more difficult trading environment and are taking pragmatic and supportive actions such as reducing targets, increasing tactical incentives and helping us to reduce operating costs,” Lookers said in a statement on Thursday.

The firm said full-year results would be in line with management expectations. (Reporting by Costas Pitas; Editing by Alistair Smout)

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