KEY POINTS:
Difficult trading conditions continued in the first quarter for vehicle auctioneer Turners Auctions, with net profit down 33 per cent as the industry faced falling sales and new regulations.
Uncertainty over the impact of new emission regulations resulted in the market being overstocked by an estimated 12,000 vehicles, shareholders heard. Car sales had plummeted as the economy slowed, exacerbated by finance company collapses, leading to a slump in prices.
- AGENCIES
