Business
Australia’s biggest car dealer laments cash burn in Victoria – The Australian Financial Review
The boss of Eagers Automotive, which runs 200 car showrooms, says $62 million of JobKeeper subsidies saved 2000 jobs, but 1300 other positions were axed.
Eagers Automotive, previously known as AP Eagers, on Wednesday, announced that net profit after tax slumped by 72 per cent to $11.8 million in the first half in a new vehicle market which had already been weak prior to the COVID-19 pandemic. But it took a serious turn for the worse when the pandemic arrived, with the company having made close to 1300 staff redundant on March 23 before the JobKeeper program was announced by Prime Minister Scott Morrison.
Eagers Automotive said it benefited from …
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