Strong demand for cars and service work boosted sales at Dublin motor group Denis Mahony by more than 12 per cent last year, even as profits at the Lexus and Toyota dealer fell slightly amid rising costs.
Revenues jumped to €120.4 million from €107.3 million in the 12 months to the end of October last, according to recently filed group accounts.
Vehicle sales increased by almost 9 per cent to €107.1 million, while revenues from workshop service and parts sales surged by more than 50 per cent to just under €13.3 million.
In a report attached to the accounts, the directors said performance in the year was “strong”.
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“Vehicle sales for both new and second-hand cars were in line with expectations,” they noted.
“Our aftersales performance was also very strong, with demand increasing for both service work and parts sales.”
Founded by former Dublin footballer Denis Mahony in 1963, the group – which comprises a Lexus and Toyota dealership near the M50 in north Dublin and an outlet at Kilbarrack, a car rental business as well as workshops and vehicle servicing operations – remains in family control following Mr Mahony’s death in 2017 at the age of 88.
Car part prices have surged in recent years due to shortages of raw materials globally, as well as heightened demand linked to the strength of the economy.
Meanwhile, demand for new and used cars in the Republic has remained buoyant despite cost-of-living pressures.
Figures from the Central Statistics Office published earlier this year showed a marginal fall in the number of new cars licensed in the State last year, even as imports of used vehicles surged compared with the previous year.
A total of 116,683 vehicles were licensed for the first time in 2024, with almost 62,000 used vehicles registered during the same period. That compared with 117,424 new private cars and 50,381 used vehicles in the previous year.
New car sales were up 3.5 per cent in the first half of the year, according to the Society of the Irish Motor Industry, with imports rising 8.1 per cent over the same period compared with last year.
