Cambria Automobiles chief executive Mark Lavery has agreed an improved management buy-out offer of £82.5 million with the AM100 PLC’s board or directors.
Group 1 Automotive president and chief executive Earl J. Hesterberg has predicted the release of “several years” pent-up demand in the UK car retail sector.
MG Motor UK remains on-track to grow its franchised car retail network to 150 sites by the end of 2021 after Wilsons Group opened the doors to its new dealership in Epsom.
Strong demand from car buyers and good levels of stock in the first half of the year have prompted Pendragon to upgrade its pre-tax profit guidance for 2021 by 20%.
L&L Automotive has acquired Mercedes-Benz Retail Group’s Hemel Hempstead dealership as the German premium car brand acts on plans to sell-off its UK retail operation.
Inchcape PLC has reported a 30% rise in turnover and a near 15-fold increase in its pre-tax profits as showed strong signs of recovery from the COVID-19 pandemic in the first half of 2021.
Lookers has said that a positive swing in performance that will see 2020’s H1 loss of £50 million converted into a £50m pre-tax profit in the first half of this year.
Vertu Motors has suggested that its 2021 pre-tax profits could be up to 60% more than forecast just a month ago after continuing its “exceptional” performance in the used car market.
Vertu Motors will operate Leicester’s Renault and Dacia franchised car dealerships in Leicester after acquiring the businesses from Renault Retail Group.
The competency of PwC’s audits of classic and racing car dealer JD Classics may be questioned in the High Court as administrators from Alvarez & Marsal sue the accountancy firm for failing to spot fraud.
North Wales Honda has changed its named to North Wales Motor Company after adding a Kia franchised car dealership to its portfolio in Llandudno.
International Motors has completed the acquisition of the Mitsubishi Motors in the UK aftersales franchise operation from the Japanese brand’s long-term importer The Colt Car Company.
Lookers has marked the opening of its new Chester Kia dealership with a weekend-long customer event.
ITV has shared a trailer revealing a sneak preview of Vertu Motors PLC chief executive Robert Forrester’s starring role in its Undercover Big Boss fly-on-the-wall reality TV series.
UK motor retailers were celebrated in the 2021 Auto Trader Retailer Awards, with Hills of Woodford, Peter Vardy and Vindis Group among the winners.
Dealer group Drive Motor Retail has implemented THREE60’s CRM system to manage its growing number of enquiries.
TrustFord chairman and chief executive Stuart Foulds has expressed “pride” in his workforce’s delivery of a £13.6m pre-tax profit in the first half of 2021.
Hawkins Motor Group and Griffin Mill Garages have become the first Nissan franchisees to adopt the Japanese car manufacturer’s new corporate identity at its dealerships.
Almost half (46%) of car dealers say they worry about the rise in online car purchases, according to research from Close Brothers Motor Finance.
Read Motor Group has added its first Stellantis new car franchises to its portfolio with the acquisition of Alfa Romeo Retailer of the Year Beechdale Motor Group.
