America's Lithia Motors has increased its acquisition offer for Pendragon by 42%, another £117 million, taking the amount being offered for all its Stratstone, Evans Halshaw, Carstore and PVM motor businesses up to £367 million.
Administrators called in to vehicle transporter firm Glasgow Car Movers have sadly made all the company's 25 staff redundant.
A director of an AM100 dealer group has branded the UK Government’s zero emissions vehicle strategy “a bloody shambles” after targets were reaffirmed by the Department for Transport yesterday.
The Department for Transport (DfT) has officially announced the implementation of a Zero Emissions Vehicle (ZEV) mandate slated to take effect next year.
The 2023 AM Dealer Technology Guide has now been published in a digital magazine format, here., packed with information provided directly by the motor retail industry's technology suppliers.
The end of 39 years selling Toyota new cars as the Japanese brand restructures its retail network has left staff at Scottish car dealer group Struans "devastated and very disappointed".
UK motor retail executives have shared their tributes following the sad deaths of two automotive sector experts, Brian Hawkins and Dan Kirby, this month.
American motor retailer AutoNation has now joined the bidding war for Pendragon, with its own 32p per share pitch matching the revised offer proposed by its US rival Lithia.
A second pitch from Anders Hedin and Roger Penske's dealer groups to acquire Pendragon in its entirety has upped their offer from 28p per share to 32p per share.
The restructuring agreement announced by online car dealer Cazoo this week to “deleverage” its capital structure and further improve its “financial flexibility” won't yet smooth its investors' journey, and stakeholders should "buckle up" according to one expert.
Laura Brailey has been promoted to the position of sales director at Mazda UK in recognition of her 28 years’ experience and familiarity with Mazda UK and its dealer partners.
BDO partner Chris Bond has taken over from Steve Le Bas as its new head of motor retail in the UK.
At mid-September Cap HPI’s data showed the average value of a used car was down -1.1%, and its values experts are expecting the month-end drop to be another 2% overall, similarly to August’s outcome.
Dealer management system firm Pinewood will be focused on growth in the UK and USA once parent group Pendragon has sold its motor retail business to US-based Lithia and Driveway.
US-based Lithia Motors could be set to take over Pendragon's dealership and leasing businesses in a £250 million deal which would leave Pinewood, Pendragon's software division, behind as a standalone entity retaining Pendragon's stock market listing.
