HR Owen has bumpy ride but is on right road

Luxury car dealership HW Owen still thinks there is trouble ahead, but believes it will manage the storm better than most.

Andy Duncan, the new chief executive who formerly ran Channel 4, is in the midst of a strategy review that began earlier this year.

Today he reported that new car registrations in the month of September were 5.5% up on the same month in 2009.

A statement said: "The board recognises that significant challenges lie ahead but is confident that the group's unique portfolio of luxury brands and a strengthened management team will provide a strong platform for development."

Both used cars and after-sales continue to operate ahead of internal expectations.