In a detailed report, Autosports CEO Nick Pagent outlined to the ASX and shareholders the company’s future operations over the next three years.

These include:

•  Using digital marketing to grow back-end services including servicing and spare-parts sales;
• Driving aftersales demand through consolidating warehousing and distribution logistics;
• Expanding capacity at existing dealerships to meet consumer demand;
• Establishing new greenfield dealerships when the mix of brand, location and demand works; and
• Integrating acquisitions benefit from operational synergies.

He said acquisition growth would focus on high-quality and well-priced targets in east-coast metropolitan areas in luxury and prestige brands, and collision and repair facilities to expand the company’s OEM-approved repairer status.

As reported, Autosports has just added the luxury stable of Trivett in Sydney’s Alexandria, purchasing the business from Inchcape for about $9 million including goodwill and fixed assets.

Mr Pagent’s outlook for 2020 is a gradual improvement in vehicle sales and growth in service and parts.

There will also be an integration of Mercedes-Benz Hornsby and Sydney City Prestige.

He said other focus areas would include implementing a bespoke program to address the Australian automotive technician skills shortage, progressing gender diversity initiatives, and promoting and embedding the group’s values across the business and organisational culture.

Mr Pagent said the company had invested in new leadership and culture training during the past financial year, in addition to enhanced awareness to build a long-term culture of safety.

“The talent shortage of Australian automotive technicians and trades was partly addressed with the launch of the Autosports Group Apprenticeship program in New South Wales, to be rolled out nationally in 2020,” he said.

By Neil Dowling