Major car dealership Lookers blames Brexit for profit warning

Collapse in diesel sales and low consumer confidence add to tough trading conditions

Shares in Lookers, one of Britain’s biggest car dealerships, have tumbled another 30% after the firm issued a profits warning, blaming increasingly challenging trading conditions.

It warned on Friday that weaker margins will push first-half profits down by 25%, to about £32m, and full-year figures will also fall below forecasts, as customer confidence is hit by continuing political and economic uncertainty.

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