Profits tumble at Rock Road Motors

PROFITS AT Rock Road Motors Limited, the company which owns Dublin car dealership Carroll Kinsella in Blackrock and Lexus Blackrock, fell to €11,564 in 2008 from over €1.5 million the previous year.

Accounts recently filed at the Companies Registration Office show that turnover at the company was down by 27 per cent, from just over €46 million to €33.4 million in the 12 months to the end of December 2008.

Carroll Kinsella was founded in 1973. It is one of the best known Toyota dealerships on Dublin’s southside, with premises in Blackrock, Walkinstown and Churchtown.

Although the Walkinstown and Churchtown businesses trade under the Carroll Kinsella name, they have different holding companies to the Blackrock dealership. Accounts filed for the Walkinstown and Churchtown businesses earlier this year show both posted a loss in 2008.

Carroll Kinsella Blackrock was established in 1978, and was appointed as a Lexus Dealer in 1990. The Lexus division was recently renamed as Lexus Blackrock. Joe Kinsella is managing director of both businesses.

The accounts for Rock Road Motors show that the company employed 43 people in 2008, down from 45 the previous year.

The Irish motor trade has seen a dramatic reversal in fortunes in the last year. Latest figures show that new car sales to the end of November are down 62.2 per cent, while the number of new cars registered for the year was 57,156.

A number of car dealerships have seen liquidators appointed this year.

Last week Dublin dealership EP Mooney closed its doors after the High Court ruled it was insolvent.