The automotive retail sector needs a more rational approach to management, argues Piers Trenear-Thomas
Inchcape has gained planning approval to develop a new Jaguar Land Rover dealership on Derby’s former cattle market.
JCT600 has closed the doors of its Vauxhall franchise in Shipley for the final time as it reduces its representation with the PSA Group brand to two sites.
Cambria Automobiles has recorded a 2.2% decline in revenues and 19.7% drop in profit before tax as an overhaul of its franchise representation led to “significant disruption” in its financial year to August 31.
Cambria has marked a new milestone in its luxury-leaning franchise strategy with the opened of its second Lamborghini dealership - introducing the Italian supercar brand to Tunbridge Wells.
Pendragon has projected full-year financial results delivering a further 17.2% decline in underlying profit before tax in an interim management statement revealing declines in turnover and profit during Q3.
Marshall Motor Holdings announced the appointment of Richard Blumberger as chief financial officer - replacing Mark Raban in 2019.
Vantage Motor Group has reported a return to profitability in its annual financial results following the sale of ‘unprofitable businesses’.
Pendragon share prices fell by over 21% as markets opened this morning as the AM100 franchise car retailer issued a fresh profit warning.
Peoples' chairman Brian Gilda has warned of Brexit “Armageddon” for the UK’s automotive sector after the Scottish retail group negotiated “fierce competition and diminishing volumes” to realise a £274.4 million turnover.
Vertu chief executive Robert Forrester has said that the business is actively looking for new investments after putting in place further measures to further strengthen its “ultra conservative” balance sheet.
Stoneacre Motor Group is set to achieve its ambition of becoming a £1 billion turnover car retail group a year early following the acquisition of four Mill Garages Northeast Ltd Volvo dealerships.
Snows Motor Group has acquired Perrys Group’s single-site multi-brand dealership selling Fiat, Mazda and Peugeot in Portsmouth.
John Clark Motor Group has reported a 5.5% increase in turnover during its financial year to December 31, 2017, ahead of the publication of its full financial results.
Arnold Clark grew its used car sales volumes by 10.3% to contribute towards a 7.3% rise in turnover but suffered a 15% decline in profit before tax during its financial year to December 31, 2017.
Lookers has said that it will continue to be “a major consolidator” after confirming that it is set to complete the acquisition of Jennings Motor Group for an undisclosed sum.
Perrys Group has blamed cost pressures including the apprenticeship levy, pension costs and a higher minimum wage for a set of 2017 annual financial results which showed a 65.7% decline in profit before tax.
Arnold Clark has promised to deliver “market-leading car leasing deals” to businesses as part of its newly-launched free employee car plan solution Affinity Cars.
Lookers is days away from formally completing the acquisition of £216.6m turnover Jennings Group, AM understands.
Stoneacre Motor Group has boosted its Stoneacre Academy offering for apprentices and staff development with the creation of a new Technical Training Facility at its Goole FordStore.
