A ‘false economy’ which has seen the UK’s car retail sector deliver on pent-up demand from the COVID-19 lockdown is masking the true extent of impending redundancies in the sector, Pendragon boss Bill Berman has told AM.
Pendragon has announced a plan to axe 1,800 jobs from its UK car retail network as part of a bid to create a “leaner and more sustainable operating model” in the wake of the COVID-19 crisis.
Inchcape is driving forward plans for a restructure to be completed by Q1 next year after reporting a 36% decline in overall revenues and pre-tax losses of £188 million in the first half of 2020.
Park’s Motor Group is poised to open a new Lotus Cars sports car dealership in Hamilton in preparation for the brand's “exponential growth”.
Pentagon Motor Group and Charles Hurst Group are both moving Vauxhall dealerships as they look to maximise their use of space to accommodate the PSA Group-owned car brand.
COVID-19 and the EU’s new RDE CO2 emission regulations were cited as the “key events” which resulted in a 5.4% decline in revenues in the car retail group’s 2020 annual financial results.
Vertu Motors has taken the decision to cut 345 jobs as it looks to future proof its operations through increased automation in the wake of the COVID-19 lockdown.
Jardine Motors Group has confirmed that it has opened consultation over redundancies as part of a restructure prompted by COVID-19.
Lookers has requested that the listing of its ordinary shares be temporarily suspended, pending publication of its 2019 annual financial results.
Over 20 employees could be at risk of redundancy at Cambria Automobiles’ Jaguar Land Rover (JLR) dealership in Swindon as part of plans to mitigate against the impact of COVID-19.
The Evans Halshaw, Stratstone and Car Store car retail businesses will have a “powered by Pendragon” prefix added to their name as part of a rebrand of the AM100 car retail group aiming to add confidence to car buying consumers.
Former CarShop chief executive Jonathan Dunkley has officially handed the used car supermarket business’s operations over to “the Sytner Group machine”
Lookers expects to be hit by a temporary suspension of shares trading after conceding that its 2019 annual financial results will not be published in time for the Financial Conduct Authority’s (FCA) June 30 deadline.
Motorline Group has opened consultation with its workforce over a 10% cut to employee pay in response to challenges faced as a result of the COVID-19 crisis.
Lookers will close a further 12 car dealerships and cut its employee headcount by up to 1,500 as part of a restructure plan aiming to make annual savings of £50 million.
Vertu Motors declared an intention to add new manufacturer partners as it grows through acquisition in a 2019 results statement following its first two days of showroom trading since the COVID-19 lockdown.
Vertu Motors employees across the UK have achieved their fundraising target of £20,000 by donating the cost of their haircuts to NHS charities.
Hendy Group has completed the reopening of aftersales operations across its entire South coast operating area - eight weeks after COVID-19 lockdown began.
Vertu Motors’ director have asserted that the group has sufficient liquidity to exit the COVID-19 coronavirus lockdown and “capitalise on trading opportunities” in an interim trading statement.
Cambria Automobiles chief executive Mark Lavery has conceded that “over 100 redundancies” are possible within his car retail group when the Government's coronavirus job retention scheme’s (CJRS) furlough period ends.
