As has been correctly pointed out in the above post, this ‘loss’ is primarily an accounting adjustment, due in most part to the inevitable correction in residual values that had resulted in inflated values in the immediate years following Covid, plus the disastrous residual values of EVs which Motability have been pushing. The CEO and COO both received six figure bonuses, which would not have happened if the groups financial performance was deemed to be of concern.
Whilst the correction in general residual values is behind us now, the used EV market shows no sign of improvement. As a result, whilst Motability continue to push them, I fear that the impact will be a continued upward movement in APs for everyone. In fact, Motability have been telling their major dealer principals that APs will continue to rise due to their increasing exposure to the residual value problems in the EV market.