Northern Ireland motor retailer Agnew Group to shut two Belfast sites

Both sites are SEAT dealerships.

In a statement to customers today, the company said: “The Agnew Group board have been in discussions with the SEAT manufacturer and have agreed a closure date for both the Ladas Drive and Boucher Road sites on September 30 2023.

“The SEAT franchise will no longer form part of the Agnew Group portfolio as we have adapted our business model to a changing marketplace.

“As a business we continue to grow and will look at opportunities with additional franchises in the future.”

The company told the Belfast Telegraph it had briefed staff about the closure of the SEAT franchises.

“The SEAT franchise in the longer term will no longer form part of the strategic Agnew Group portfolio and growth strategy.

“The Agnew Group business model has adapted to a changing market while continuing to grow and they are still looking at opportunities with additional franchises in the future.

“As part of this process, the Agnew Group board endeavours to redeploy all affected staff to other roles within the Agnew Group, there will be no compulsory redundancies.

“The 46 affected staff will be able to avail of voluntary redundancy, however, if they wish, subject to individual eligibility.”

Agnew Group was set up in 1931 by the Agnew family. In January 2012, the Agnew Group became part of the Sytner Group of companies, the UK’s largest motor retailer. Its parent company is Penske Automotive Group Inc, listed on NYSE.

Following SEAT’s exit, the business will represent eight manufacturer brands. It also has a used car outlet, contract leasing, trade parts, body shop and trade auction.

Its remaining franchises include Audi, BMW, MINI, Porsche and Volvo.

SEAT cars are sold by other motor dealerships around Northern Ireland, such as Donnelly Group, SERE, Roadside Motors and Wilsons of Rathkenny.

The Spanish car manufacturer last month announced a €371m operating profit for the first half of 2023. Revenue of €7.4bn was up 37.8% on the first half of 2022 and the highest figure in the history of the company.