The David Prentice Group of garages in Northern Ireland has been purchased for around £5 million sterling (€8.08 million) by Charles Hurst, Northern Ireland's leading garage company owned by British motor dealers Lookers where Woodchester GE has a 29.9 per cent stake. David Prentice operates three Renault and two Jeep dealerships in the Lisburn and north Down areas. The acquisition lifts the number of Renault dealerships owned by Hurst to six and the total number of its franchised outlets to 37. Hurst has invested £17.5 million in Northern Ireland since it was acquired by Lookers for £25 million in 1996.
Together with the David Prentice acquisition, the group has now acquired 18 businesses during the past year. Meanwhile, the British government announced measures aimed at cutting the average price of a new vehicle by £1,100 sterling. Trade and Industry Secretary Mr Stephen Byers said greater competition will be introduced into the market from September, saving private buyers £1 billion a year.
Suppliers will have to extend fleet discounts to individuals follows a report by the Competition Commission which found that motorists were paying around 10 per cent more for a new car than buyers on the continent.
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