Caffyns, the AM100 car dealer group in southern England, has sold a Volvo dealership.
The business in Hove, near Brighton, also had a Ford retail dealership and has been bought by Dinnages Garages, which already represents Ford and Renault.
Caffyns said the £417,000 realised will be applied in reducing its debts and for reinvestment in the business.
Caffyns now represents Volvo in Eastbourne only, according to data from AMi (www.am-online.com/ami).
Caffyns has also exchanged contracts with Wilmington Homes for the £600,000 purchase of a vacant freehold site at Worthing on which it hopes to build a new Volkswagen dealership.
Once planning permission is gained, this development will replace Caffyns' current VW dealership in Goring-by-Sea.
An award-winning journalist and editor, with two decades of experience covering the motor retail industry, and accredited by the Institute of Leadership and Management (ILM) plus the National Council for the Training of Journalist (NCTJ)
As editor of AM since 2016, Tim is responsible for its media content, planning and production across AM's multiple channels, including the website, digital reports, webinars, social media and the editorial content of AM's events, Automotive Management Live and the AM Awards. His focus is on interviewing senior leaders of franchised dealer groups and motor manufacturer national sales companies to examine latest developments in UK motor retail.
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