Eagers Automotive released market update for the half year ending 30 June 2022

Eagers Automotive Limited (ASX: APE) updated its year-to-date trading performance and outlook for the financial results for the half-year ending 30 June 2022. The company’s underlying performance continues to benefit from a strong market where demand for new vehicles exceeds supply, increasing its record new car order book of more than 25% since 31 December 2021.

Despite the continuing strength of the company’s underlying business and record order book, APE expects that the reduction in the number of new vehicles delivered to customers in the first half of 2022 might impact the company’s half-year financial performance. The decline in the supply of new vehicles is affected by the ongoing semi-conductor shortages in the industry and the Ukraine conflict, and China’s ongoing COVID lockdowns.

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