Perrys Motor Sales has said that its launch of the new Perrys Leasing service has come in response to the “seismic shift of millennials preferring to rent rather than buy products and services”.
Conservative party MP Jo Johnson will entertain guests at this year’s AM100 Dinner after dealers hear about the latest industry profitability trends.
Hendy Group has begun a countdown to the opening of a new 200-car Hendy Car Store used car supermarket in Dorset.
The divisional director of Pendragon’s loss-suffering Car Store used car retail network is away from the business on ‘gardening leave’, AM has discovered.
Pendragon has welcomed former AutoNation president and chief executive William Berman as its new independent non-executive director as Gillian Kent stands down.
Pendragon’s new leadership team is conducting review of the car retail group’s operational and financial prospects as an interim management statement revealed Q1 pre-taxes losses which were ‘lower than expected’.
New developments at the 2019 AM100 Dinner will celebrate the ‘unsung heroes’ of dealer groups and the ‘rising stars’ across all motor retail industry companies.
Hendy Group expects to scale the AM100 with a turnover of over £1 billion following its acquisition South Coast-based Westover Group.
Sytner Group has secured a long-term lease on a 34,000 sq-ft building as part of plans to create a PDI and aftersales facility for its premium and luxury car franchises.
Marshall chief executive Daksh Gupta said that the group is well-placed to make “another Ridgeway-style acquisition” as he highlighted a strong balance sheet amid 2018 financial results which revealed a 2% decline in turnover.
Lookers recorded a 9% decline in pre-tax profits despite growth in aftersales and used cars as WLTP impacted new car supplies and economic uncertainty impacted consumer confidence in 2018.
TrustFord has celebrated the opening of its new £2.2m FordStore in Cribbs Causeway, Bristol, following a £2.2 million investment in new facilities and interactive technology for its customers.
Vertu Motors chief executive Robert Forrester has said that the group is “well positioned to take full advantage of tougher markets” in a trading update for the AM100 car retail group.
Inchcape’s growing profitability from global vehicle distribution were offset by a challenging retail sector during 2018 – with revenues up 3.6% but underlying profit before tax down by 6.5%.
Stoneacre has become the latest new addition to the MG Motor UK car retail network with the opening of a new franchised site in Greater Manchester.
New car dealership developments for Marshall Motor Group and Vantage Motor Group have been showcased by their respective business leaders via social media.
Stoneacre Motor Group has reported turnover growth of 9% and profit before tax up 34% in its financial results for 2018.
Vertu Motors has completed the acquisition of online commercial vehicles retailer Vans Direct for a total consideration of £7.5 million.
Cambria Automobiles has reported that increased profit per unit generated by its luxury franchise portfolio helped to mitigate the effects of a 24.9% slump in new car sales during the three months to the end of November.
Motor retailers' falls in turnover and profitability spur the AM100 to diversify and, maybe, to seek a new model
