Stoneacre’s Unyielding Journey to Success
Shaun Foweather, Managing Director of Stoneacre Motor Group, opens up about the company’s remarkable journey, filled with strategic acquisitions, unparalleled growth, and the ability to adapt to an ever-evolving automotive market. With a deep understanding of the challenges and opportunities within the motor trade, Foweather leads Stoneacre with a clear vision for the future as the company celebrates its 30th anniversary this December.
From Humble Beginnings to Industry Leader
Founded in 1994 by Richard Teatum, who had previously sold his first business, TK Motors, to Evans Halshaw, Stoneacre’s first acquisition was a former Peugeot dealership in Scunthorpe. Retaining the name Stoneacre helped the group sidestep costly rebranding. Since then, the company has evolved into one of the largest UK dealer groups, representing over 33 franchises, including Mazda, MG, Volvo, and Suzuki. Under Foweather’s leadership, the company has expanded significantly, now boasting 65 branches, 120 franchise locations, and a dedicated team of over 3,000 employees.
Navigating the Shifting Terrain of Used Cars
The used car market has been a rollercoaster for Stoneacre, particularly during the pandemic when demand surged due to a shrinking new car supply. Foweather explains, “The rise in used car values during the pandemic was unsustainable, but the market has now stabilised.” He notes that while the market is adjusting, used cars remain a vital part of Stoneacre’s strategy, highlighting the importance of adaptability in the face of fluctuating trends.
The Electric Vehicle Revolution: Challenges and Opportunities
With the UK government’s ambitious 2035 deadline for all cars to be zero-emission vehicles (ZEV), Foweather raises concerns about the lack of infrastructure and consumer readiness. “The rush towards electric vehicles without considering the full scope of the transition is unrealistic,” he says. He advocates for a more measured approach, focusing on hybrid vehicles as a bridge to the future, citing Stoneacre’s success in this segment: “Hybrid sales are thriving as they provide customers with peace of mind and avoid range anxiety.”
Agency Model: Adaptation and Challenges
The agency model has been a significant disruptor in the industry, with brands like Mercedes-Benz and Volvo pushing their networks to adapt to new sales structures. Foweather believes that while the model has presented challenges, Stoneacre has successfully adapted to its implementation with Volvo, although he acknowledges that some manufacturers are still hesitant to fully embrace it. “The key to success in this market is our ability to adapt and embrace change,” he notes.
Embracing Digital Transformation in the Pandemic Era
The pandemic reshaped how Stoneacre operates, with a swift pivot to digital tools like CitNOW, Rapid Response, and Teams to engage with customers. “The pandemic tested us, but it also proved how adaptable and resilient the motor trade can be,” Foweather reflects. “We learned to work smarter, leveraging digital platforms to meet the changing needs of our customers.”
Training the Next Generation: The Stoneacre Academy
As Stoneacre looks to the future, Foweather emphasizes the importance of training and development. The Stoneacre Academy, recognized by Ofsted for excellence, provides apprentices with the skills needed to succeed in the modern automotive industry. Each year, Stoneacre nurtures around 100 apprentices, offering them qualifications equivalent to GCSEs and A-Levels. Foweather believes investing in people is key to the company’s continued success: “Our people are our greatest asset, and we ensure they have the opportunity to grow and thrive within the business.”
Looking Ahead: Stoneacre’s Vision for the Future
Foweather remains optimistic about Stoneacre’s future, even amid the challenges of a rapidly changing industry. “I don’t see challenges, I see opportunities,” he says, emphasizing the company’s ability to adapt quickly and effectively. With a strong focus on employee satisfaction and continuous growth, Stoneacre is poised to thrive in the next decade.
An Industry Leader Who Continues to Adapt and Thrive
As Stoneacre celebrates its 30th year, Foweather’s leadership continues to drive the group toward new horizons. From embracing digital transformation to fostering the next generation of automotive professionals, Stoneacre’s future is bright. Foweather sums it up best: “Nothing fazes us.”
By prioritizing adaptability, innovation, and employee development, Stoneacre Motor Group is setting the standard for success in the ever-evolving automotive industry.
Source: Motortrader.com
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