Credit crunch not hit Pendragon April 27th, 2008

Pendragon, the UK car dealership, has reported used car sales are up 2% on this time last year, although new car sales are down 4%. The 2% increase means that Pendragon expects full year results to come in towards the top end of analysts expectations. The credit crunch and falling house prices have not yet had a knock on effect to the care market, however it is unclear whether this will carry through the rest of the year. Therefore future trading conditions are said to be uncertain.