Author: Diana M. Cuyler

Predicted fall in property prices – a boost for BTL owners

Motorcycle Price

As Finbri, specialist in real estate bridging loans, comments: “The current situation is not only having an impact on real estate prices but also on the expenses of individuals. 30% of consumers are spending less and our recent survey revealed that 20.19% of real estate investors will reduce their discretionary spending due to current economic conditions.

Despite this, real estate investment is still attracting significant interest, with 50.45% of current investors looking to invest in real estate in 2023. Many real estate experts have predicted a 10%-15% lower house prices next year due to mortgage lenders canceling deals and rising interest rates. This represents a solid opportunity for rental owners to take advantage of current market conditions and increase their portfolio. »

Why should real estate prices fall?

The UK is currently experiencing significant economic turbulence which is having a direct impact on the property market, with three prime ministers in 2022 alone (so far), a cost of living crisis, mortgage turmoil at the sequel to the mini-budget which was then u-turned and seizures are expected to increase by 0.01% to more 0.06% of outstanding home loans per quarter by the end of 2025.

These conditions have created a perfect storm for the housing market, with prices falling as a direct result – providing an opportunity to invest in property at below market value.

  • Interest rates increase: The Bank of England now expects inflation to rise by around 13%and experts predict interest rates will rise to around 4.25% by March 2023. This should put pressure on home buyers who are already feeling the pinch of high inflation rates.
  • Cost of living crisis: Fewer people can afford to buy a home as household budgets tighten – with food, fuel and housing costs rising. This puts additional pressure on household budgets while making it more difficult to save.
  • Mortgage rates: The number of mortgage approvals has fallen to its lowest level in four years, according to the Bank of England. This will likely lead to lower demand for real estate, which will put downward pressure on prices. The Bank of England announced a 0.75% increase in its key rate, from 2.25% to 3%, in October.

At national scale announced the following changes to their accounts as of December 2022:

  • The Standard Mortgage Rate (SMR) will fall from 74% to 6.49%
  • The base mortgage rate (BMR) will drop from 25% to 5%

Will the expected prices affect buy-to-let investments?

Current market conditions have resulted in lower demand for real estate purchases. This reduced competition has led to lower prices, making rental investments more attractive.

According to Finbri research, 50.45% of people plan to invest in real estate in 2023 – many see it as a way to protect their money in these uncertain times.

Are buy-to-let investments worth it?

Buy-to-lets have always been a popular investment with many people attracted by the potential for high returns. However, with the current cost of living crisis, rising inflation and uncertainty in the real estate market, it is also important to consider the risks associated with this type of investment.

  • Increase in demand: The current environment of high prices and rising mortgage rates has made it difficult for many potential buyers to access the property ladder, which has helped fuel demand for private rental housing. As a result, the returns offered by buy-to-let investments have appealed to many investors, particularly those looking for an alternative to low-yielding cash deposits.
  • Increase in rental yields: Compared to last year, tenant demand increased by 20%, while the total number of rental units available fell by 9%. While rental yields increase on average 3% a year and with 40% of landlords saying they expect to increase rent if interest rates rise further, mortgage repayments need to be closely monitored to determine rental yield.

However, with recent changes to mortgage interest tax relief, as well as the introduction of a 3% stamp duty surcharge for second homes, buy-to-let has become less attractive as a investment proposition for some. These changes have been exacerbated by the fact that many lenders have begun withdrawing their most attractive buy-to-let offers.

Despite the current economic conditions, there is still growing interest in investing in real estate, with 67.92% of experienced investors looking to invest in real estate in 2023. This presents a fantastic opportunity for rental property owners to take advantage of the current market. conditions and increase their portfolios.

Final Thoughts

The forecasted market conditions present a significant opportunity for rental owners to take advantage of current market conditions and increase their portfolio. Despite the current economic conditions, there is still significant interest in investing in real estate, making buy-to-let investments an attractive option for many.

However, it is important to remember that any investment involves risk and you should always seek professional financial advice before making any decision.

Flat Out Friday tickets now on sale

Motorcycle Sale

Flat Out Friday, presented by Harley-Davidson Motorcycle Company, returns to the Fiserv Forum on Friday, February 17 at 7 p.m.

Created in 2014, Flat Out Friday is a flat-track indoor motorcycle race on a sticky track of soda syrup. Racers ages 6 to 79 come from all over the country to compete in the largest indoor flat track race in the United States.

Tickets for the competition are on sale now and can be purchased at FiservForum.com

During the event, over 300 riders in 12 classes are expected including Open Hooligan, Women’s Hooligan, Open Women’s, 50cc, Open Amateur, Pro, Electric, Boonie (Minibikes), Vintage, Brakeless, 65cc-85cc and Goofball .

“Flat Out Friday is a locally owned and operated business in Milwaukee, and we’re excited to bring racing back to the Fiserv Forum,” said Warren Heir Jr., co-founder of Flat Out Friday.

“Flat Out Friday is as much a show as it is a race, and we hope to bring fun for the whole family! We have a wide variety of runners of all ages and skill levels – come cheer them on!

For more details on Flat Out Friday and rider registration, visit flatoutfriday.com.

City of Vernon considering purchase of 2 electric trucks – if price is right – Okanagan

Motorcycle Price

Electricity may be the future of transport, but only if the price is right, reads a report at Vernon Municipal Council.

When city council meets on Monday afternoon, part of the agenda will include approving the budget for two electric trucks.

Currently, the city’s EV fleet includes a full-size service van, four cars, a UTV and six e-bikes.

Read more:
The world’s largest automakers plan to spend $1.2 billion through 2023 on electric vehicles and batteries

“Electric pickups were not added to the fleet due to lack of availability,” reads the report, which adds that a local Ford dealer has informed the city that it may be possible to purchase a pair of Fords. Lightnings (the electric versions of the F150).

The report notes, however, that due to the limited supply, the city should commit to buying them, although there is no guarantee when they will arrive.

The story continues under the ad

Each Ford Lightning is reportedly priced at $75,000, with an additional $5,000 needed for lights and decals.

“As the delivery times are vague, the vehicles, if received, would be added to the fleet, replacing the next suitable gasoline-powered vans scheduled for replacement,” the report read.

“At a purchase price of $75,000, it will take approximately 8-10 years to recoup the cost difference of the electric pickup versus the equivalent gas alternative.”

web_mn_claire_newell_oct_13th

3:43
Travel tips: Hertz exploits the electric car market

 

The report also says the dealership expects a price increase later this year.

trendy now

“If the city commits to the purchase immediately, there is a chance, although no assurance, that the current price will be honored,” the report read.

“If a further price increase occurs, purchasing these vehicles no longer makes financial sense, and the administration recommends that the city not proceed with the purchase until that investment and operating costs make solid fiscal sense.”

The story continues under the ad

The report also discussed the city’s vehicle fleet budget of $1,310,000 – which includes a balance of $133,777. Purchasing the two trucks for $150,000, with an additional $10,000 needed for these extras, would create a shortfall of $26,233.

web_1006_nn_air_canada_green_planes_thumbnail_1280x720

2:47
Air Canada orders hybrid-electric planes

 

“In short, the availability of electric trucks is unpredictable, with long lead times and little wiggle room in purchase price negotiations,” the report reads.

“The administration is not recommending the purchase of electric trucks, at higher prices, until supply increases, availability is assured and the acquisition is in the best interest of the taxpayer.”

However, if the price remains at $75,000 per truck, the report says the board should clear approval for the purchase of the two electric trucks.

The report can be accessible online.

saltzman

4:37
A technical expert covers common questions when buying an electric vehicle

 

© 2022 Global News, a division of Corus Entertainment Inc.

A man would have killed his father for the sale of land in Lyantonde

Motorcycle Sale

A 23-year-old man allegedly killed his father for allegedly refusing him to sell part of their land to buy a motorbike for commercial use (bodaboda).

The incident reportedly happened in Bikokola B village, Mpumudde trading center in Lyantonde district.

The victim is Valentino Turyatunga, who was 55 years old.

It is alleged that his son, Vincent Nuwahareza, repeatedly hit him in the head with a wooden mortar, killing him.

Greater Masaka Police Public Relations Officer Muhammad Nsubuga confirmed the death and said police are investigating the matter.

He said the incident happened on Friday.

Local council leaders later said angry locals apprehended the suspect after a child who allegedly witnessed the murder alerted locals.

They handed Nuwahareza over to the police at Mpumudde police station and he was later transferred to Lyantonde.

Margaret Kobuyanji, the region’s president, said Lyantonde police went to the victim’s home and arrested his wife, Agnes Tafiirwe, and their youngest son, 14, for questioning.

She told police her husband developed misunderstandings with the rest of the family after refusing the son to sell land he had given her to buy a motorbike.

Fred Tamale, a local leader, said the suspect accused his father of blocking his chances of getting out of poverty by refusing him to sell said land.

Tamale said young men using drugs had led to an increase in crime in the area, and he called on the police to educate young people against drug use.

Police released the body to the family for burial after an autopsy.

Tickets on sale for the NHRA’s return to the Route 66 circuit at the Route 66 NHRA National Championships presented by PEAK Performance

Motorcycle Sale

INDIANAPOLIS, IN – November 10, 2022 – (Motor Sports News Wire) – With excitement surrounding the return of the NHRA Camping World Drag Racing Series to Route 66 Raceway during the 2023 season, tickets are now on sale for the 23rd Annual Route 66 NHRA National Championships presented by PEAK Performance, which will take place from May 19 to 21. in the fan-favorite installation.

The race marks the first time since 2019 that the NHRA Camping World Drag Racing series has appeared at Route 66 Raceway and all four pro classes (Top Fuel, Funny Car, Pro Stock and Pro Stock Motorcycle) will compete in the event to add to the anticipation of the NHRA’s return to Chicago.

Since its 1998 debut on the NHRA circuit, the track has been a fan and race team favorite, with the 2023 event being the sixth of 21 races in the coming season. With race teams looking for a win early in the season, fans will be treated to all the thrills and incredible moments that come with 11,000 horsepower, 330 mph nitro action and thrilling side-by-side action in Pro Stock and Pro Stock Motorcycle as it all returns to the Windy City.

“When the announcement was made that Route 66 Raceway was returning to the NHRA Camping World Drag Racing Series schedule, it was great to see the initial enthusiasm from fans and race teams, and it only continued. over the past few weeks,” the NHRA said. Vice President of Lane Management and Operations, Kasey Coler. “We’re thrilled to have this terrific facility back on the NHRA Tour and know our fans can’t wait to see another spectacular event at Route 66 Raceway in 2023.”

Steve Torrence (Top Fuel), Tommy Johnson Jr. (Funny Car), Deric Kramer (Pro Stock) and Matt Smith (Pro Stock Motorcycle) won the most recent event at Route 66 Raceway in 2019, and the race this year will air on Fox Sports 1 (FS1). In the more than two decades of racing at Route 66 Raceway, fans have come to enjoy the nightly qualifying sessions that have been a hallmark of the event, helping to shape a rich history at the facility. There have also been several major moments on Route 66 over the years, including the first career Pro Stock win for five-time Pro Stock World Champion Erica Enders.

In the Top Fuel ranks, Chicago-area native Tony Schumacher, who returned to full-time racing in 2022, earned five wins at the facility, leading everyone in the class. Antron Brown and Doug Kalitta both have three, while John Force and Matt Hagan’s three wins in Funny Car lead the way among active drivers. Torrence holds the track record in Top Fuel with a blast of 3.677 seconds at 333.58 mph, while points leader Robert Hight’s 3.851 at 334.73 is the best runs in track history in Funny Car .

In Pro Stock, five-time world champion Greg Anderson, who earned his 100th victory earlier this year, is the only active rider with more than one victory in Chicago. Pro Stock Motorcycle’s Hector Arana Jr., Angelle Sampey and Matt Smith all picked up two victories in Chicago, with reigning world champion Smith winning the two most recent events at Route 66 Raceway.

To purchase tickets for the 23rd Annual NHRA Route 66 National Championship presented by PEAK Performance, fans can visit www.NHRA.com/tickets. All children 12 and under will be admitted free to the general admission area with a paying adult. For more information about the NHRA, visit www.NHRA.com.

About Camping World Holdings, Inc.

Camping World Holdings, Inc., headquartered in Lincolnshire, Illinois, (together with its subsidiaries) is the largest US retailer of recreational vehicles and related products and services. Our vision is to build a long-term legacy business that makes motorhome fun and easy, and our Camping World and Good Sam brands have served motorhome consumers since 1966. We strive to create long-term value. term for our customers, employees and shareholders. by combining a unique and comprehensive assortment of RV products and services with a national network of RV dealerships, service centers and customer support centers, as well as the most extensive online presence in the industry and a team of highly skilled and knowledgeable associates serving our customers, the RV lifestyle, and the communities in which we operate. We also believe that our Good Sam organization and family of programs and services allow us to uniquely connect with our customers as stewards of the RV enthusiast community and the RV lifestyle. With RV sales and service outlets in 42 states, Camping World has become the go-to destination for all things RV. For more information, visit www.CampingWorld.com

About the NHRA

Based in San Dimas, California, the NHRA is the primary sanctioning body for the sport of drag racing in the United States. The NHRA presents 22 national events including the NHRA Camping World Drag Racing Series, NHRA Lucas Oil Drag Racing Series, FuelTech NHRA Pro Mod Drag Racing Series presented by D-Wagon, Constant Aviation Factory Stock Showdown and Top Fuel Harley Series. The NHRA offers competitive opportunities for drivers of all skill levels in the NHRA Summit Racing Series and NHRA Street Legal. The NHRA also offers the NHRA Jr. Street program for teens and the Summit Racing Jr. Drag Racing League for youth ages 5-17. With over 120 member tracks, the NHRA allows riders to compete in a variety of locations nationally and internationally. NHRA’s Youth and Education Services (YES) program reaches more than 30,000 students each year to spark their interest in automotive and racing-related careers. the NHRA streaming service, NHRA.tv, allows fans to view all NHRA national events as well as exclusive sports features. In addition, the NHRA owns and operates three racing facilities: Gainesville Raceway in Florida; Indianapolis Lucas Oil Racetrack Park; and Auto Club Raceway in Pomona, Southern California. For more information, log on to www.NHRA.comor visit the official NHRA pages on Facebook, Instagram, Twitter and YouTube.

Source: National Hot Rod Association

nhra-camping-world-drag-racing-series-300x206-1

####

Ola Electric: Ola confirmed plans to enter electric motorcycle business in India

Motorcycle Business

Ola Electric, which started operations last year, is currently the country’s largest manufacturer of electric two-wheelers. It offers three models – S1, S1 Air and S1 Pro in India.

Bhavish Aggarwal, co-founder and CEO of Ola, is hosting an online poll on what kind of electric motorcycle his EV maker should build first. (AFP)

In the clearest hint yet, Ola Electric has confirmed that it will be entering the electric motorcycle business in India. Bhavish Aggarwal, co-founder and CEO of the Tamil Nadu-based electric two-wheeler maker, said his company was “building” electric motorbikes and conducting an online survey to find out what potential customers want the character of the EV to be. that is. . He came up with options like a sport bike, cruiser bike, adventure bike, or cafe racer. Ola previously expressed his eagerness to expand his EV business beyond electric scooters.

According to reports, the first of Ola Electric motorcycles could hit the markets as early as next year. Recently, the CEO hinted that Ola is considering e-bikes that cater to segments such as the mass market, mid-segment as well as the premium category. An official announcement on Ola’s next electric motorcycle could take place towards the end of this year.

Ola’s plans to launch an electric motorcycle were first hinted at when the S1 Air electric scooter was launched on Diwali this year, Aggarwal said: “Over the next 12 months, we will be building electric products in all categories of two-wheelers, such as commuter scooters. , motorcycles, sport bikes and more, to ensure that everyone who purchases ICE vehicles has a much better EV product to choose from. »

Ola Electric is currently the leading electric scooter manufacturer in the country. The recently launched S1, S1 Pro and S1 Air comprise Ola’s EV lineup, which debuted in August last year. In October, Ola Electric recorded about 20,000 electric vehicle sales, its highest level in a month. Aggarwal is optimistic that the EV maker will reach production capacity of 10 lakh EVs by the end of next year. Since December last year, Ola has already manufactured a lakh units so far.

Ola Electric also plans to drive its first electric car. The electric vehicle maker recently showed what the next electric car will look like and what it will offer in terms of features and performance. The electric car should not be launched before 2025.

Date of first publication: November 10, 2022, 1:44 PM IST

The famous motorcycle brand returns to Glasgow

Motorcycle Brand

The motorcycle brand is back in Glasgow

THE Triumph motorcycle brand returns to Glasgow with the opening of a premium dealership on Saturday.

The opening of West Coast Triumph Glasgow, on Hillington Road, created 13 showroom jobs. Three additional positions were created within the West Coast Dealer Group headquarters with the opening.

West Coast has over 20 years of experience retailing high end motorcycles in Glasgow and across the West of Scotland.

Devron Boulton, Managing Director of Triumph GB, said: “It’s great to see Triumph Motorcycles return to Glasgow with a stunning new dedicated showroom and workshop… West Coast are a highly respected and experienced dealer.”

READ MORE: Ian McConnell: Did the Tories think the populist front would let them get away with anything, forever?

David Hackshall, Managing Director of West Coast Triumph Glasgow, said: “The whole team at West Coast Glasgow was on board from the start and rose to the challenge of meeting not only Triumph’s expectations, but also the expectations of owners and Triumph drivers in the West of Scotland. It’s a great brand that fits perfectly with our company and our culture. With this new dedicated solus dealer, we look forward to an exciting future together.

READ MORE: Ian McConnell: Hopes of ending Brexit stupidity under Braverman and Sunak seem doomed

Mr Boulton said: “David and his team have a genuine passion for motorcycles and the Triumph brand, and their strong focus on customer service will ensure they go from strength to strength.”

Sport Motorcycle Market Sale Surpasses $181 Billion in Revenue

Motorcycle Sale

Sports Motorcycle Market 2022

Sports Motorcycle Market 2022

According to industry analysis, the global motorcycle market is expected to approach a revenue of US$125 billion in 2021. The market is expected to grow 1.5 times over the next ten years to reach US$181 billion in revenue by 2031.

Persistence Market Research has recently published a report on the global sports motorcycle market. The report provides a detailed assessment of key market dynamics, such as drivers, trends, opportunities, and restraints, along with detailed information about the market structure. This market research report presents exclusive facts and figures on the growth of the sports motorcycle market during the forecast period from 2021 to 2031.

Request for Free Sample Copy of Sports Motorcycle Market Report @https://www.persistencemarketresearch.com/samples/3586

Key market context indicators such as value chain and supply chain analysis, compound annual growth rate (CAGR), and year-on-year growth (YoY) of the market are explained comprehensively in the report. study by Persistence Market Research. This information can help the readers understand the quantitative development projections of the Sports Motorcycle market over the forecast period.

The study is relevant for market stakeholders as well as manufacturers, distributors, suppliers, and investors as it can help them understand applicable strategies to grow in the market. Stakeholders, investors, industry experts, researchers and journalists, as well as trade researchers of the Sports Motorcycles market can benefit from the information and statistics presented in the research report of Persistence Market Research.

The report includes facts and figures related to macro and microeconomic factors that impact market growth. The study also offers actionable insights based on future Sports Motorcycle market trends. Additionally, regional players and new market entrants can also use the information presented in this report to make business decisions and gain traction in the market.

Key Companies-

• Triumph Motorcycles Ltd.• Bajaj Auto Ltd.• Bayerische MotorenWerke (BMW) AG• Ducati Motor Holding SpA• Eicher Motors Limited• Harley-Davidson, Inc.• Hero MotoCorp Ltd.• Honda Motor Co., Ltd.

• KTM AG

You can customize this report @https://www.persistencemarketresearch.com/request-customization/3586

Key market segments

Persistence Market Research’s study of the sports motorcycle market is divided into 2 important segments: technology and product.

This report offers comprehensive data and insights on important market dynamics and growth parameters related to these categories.

Technology• Integrated circuit motors• Up to 150 cm3• 151-300cc• 301-500cc• Above 500 cc

• Electric

Product• Sports motorcycles• Standard• Cruisers• Sports• Mopeds• Electric

• Others

Scooters• Standard• Max• Shut in• Three-wheeled

• Electric

Region• North America• Latin America• Europe• South Asia and the Pacific• East Asia

• AEM

Full report [email protected]https://www.persistencemarketresearch.com/market-research/motorcycle-market.asp

Research Methodology

In the Persistence Market Research report, proprietary research methodology is used to conduct in-depth research on the development of the Sports Motorcycles market and draw conclusions about the future growth factors of the market. In this research methodology, secondary and primary research is used by analysts to ensure accuracy and reliability of conclusions.

Secondary resources are referred by analysts when evaluating market research, which include facts and figures from the World Bank, IMF, US Energy Information Administration, International Energy Agency energy, local and regional government websites, white papers, trade and external and internal journals. data base.

Analysts conducted extensive interviews with several industry experts, such as sales supervisors, sales operations managers, product portfolio managers, senior executives, market intelligence managers, marketing managers/ product, engineering managers and production managers to provide relevant information.

Comprehensive information acquired from primary resources and secondary resources is validated with companies operating in the Sports Motorcycles market to make Persistence Market Research’s projection on the growth prospects of the Sports Motorcycles market more accurate and reliable.

Get full access to this report @https://www.persistencemarketresearch.com/checkout/3586

Answers to key questions in the market report

• Which region is expected to hold a major market share during the forecast period?• What will be the major driving factors that will propel the demand for sports motorcycles during the forecast period?• How will current trends impact the sports motorcycle market?• Who are the important market players?

• What are the crucial strategies of key players to strengthen their positions in this landscape?

About Us: –

Persistence Market Research (PMR), as a third-party research organization, operates through a proprietary fusion of market research and data analytics to help businesses soar no matter the turbulence encountered due to financial/natural crises.

Contact us:

Persistence Market ResearchAddress – 305 Broadway, 7th Floor, New York, NY 10007 USATelephone in the United States – +1-646-568-7751USA-Canada Toll Free – +1 800-961-0353

Sales – [email protected]

Germany office:Persistence Market ResearchPotsdamer Platz 10 Haus 2, 5th floor Berlin,Germany 10785

Call +1 888-863-4084

This press release was published on openPR.

Vertu Motors acquires historic family motorcycle business in Yorkshire

Motorcycle Business

logo-3-e1633446435798-4-3

Dealerships in Shipley, near Bradford, and Rotherham, will become part of the group’s Vertu Motorcycles brand. Allan Jefferies has been a tradesman and family since 1901. Framer Joseph Jefferies founded the business in the old steam tram shed at Shipley, near the Ross Hotel in 1901. It moved to premises on Saltaire Road in 1917, where, named Allan Jefferies after his son, it was to remain so for over 80 years.

The spokesperson said: “The Jefferies family are well known in the motorcycling world with Allan’s son Tony and brother Nick winning the Isle of Man TT three times. Tony’s son David also won this world famous race and was the course record holder.

“Tony ran the business until 2001 when his daughter Louise took over. Allan Jefferies has represented the BMW brand since 1971 and only started representing it in the 1990s.”

Robert Forrester, Managing Director of Vertu Motors plc, said: “Allan Jefferies has always been about family values ​​and personal service; it is a philosophy that will continue under the aegis of our group.

“Louise has overseen a business that is in great shape and will therefore provide a solid foundation for Vertu Motorcycles to grow and grow further.”

Louise Jefferies said: “For over 50 years, Allan Jefferies has been associated with the sale and service of BMW motorcycles. In those days, we have always stood for trustworthy service and a warm welcome.”

Mark Goode Brand Director Vertu Motorcycles with Rotherham Managing Director Andy Forrest

Vertu completes multi-million pound takeover of family motorbike business – Car Dealer Magazine

Motorcycle Business

Car dealership group Vertu has agreed a multi-million pound deal to buy motorcycle retailer Allan Jefferies.

The Top 100 car dealerships outfit confirmed the news in a statement to the London Stock Exchange this morning (Tuesday).

It acquired the business and assets of two BMW Motorrad outlets in Saltaire Motor Company Yorkshire.

Both locations currently trade as Allan Jefferies and have been in the same family for four generations since 1901.

The company has represented BMW since 1971 and the latest agreement makes Vertu the largest retailer of BMW Motorrad motorcycles in the UK.

The outlets purchased are located in Shipley, near Bradford and Rotherham and will be rebranded to market under the Vertu brand.

ald_carmarket_mid_page_banner

They will then become part of the Vertu Motorcycles division, which will operate six motorcycle outlets representing BMW Motorrad and Honda.

For the financial year ending September 29, 2021, the two concessionaires had sales of £20.5 million and operating profit of £463,000.

Total consideration is estimated at £4.2 million, subject to finalization of completion accounts, including a freehold property value of £1.85 million and a goodwill payment of £500,000.

Due to the seasonality of motorcycle sales, Vertu expects its new acquisitions to post a slight loss by the end of the current fiscal year.

Robert Forrester, CEO of Vertu Motors, said: “Our business is doing well and the addition of two more BMW Motorrad outlets will be both financially and strategically accretive to the group. Vertu becomes largest UK partner for BMW Motorrad.’

Paulo Alves, Head of BMW Motorrad UK and Ireland, added: “We are delighted to support Vertu’s acquisition of the excellent Allan Jefferies business in Yorkshire.

“The Jefferies family has built a fantastic operation and we are confident the business will be in good hands.”

“As a leading brand, our customers come first and we share this philosophy with Vertu. We welcome them as our biggest partner in the UK.

In October, Forrester told Car Dealer he wanted to catapult his group to become one of the UK’s top three with 400 dealerships to its name.

The Vertu boss spoke to Car Dealer Live, which you can watch below, in an extensive interview after the group’s first half results were released.

Virtue posted profit of £28.2m on revenue of nearly £2 billion for the first half of 2022.