Pendragon Vehicle Management (PVM) has appointed Phil Wilbraham as its new group vice president, following its acquisition by Lithia.
US and Canadian investors are looking for opportunities in the UK’s automotive retail market and further acquisitions are expected to take place this year.
Pinewood is poised to wrest market share from industry rivals operating in the UK’s £100 million dealership management system (DMS) market
Today is the date that the deal between America's Lithia and Driveway and AM100 dealer group Pendragon is expected to be completed. leaving Lithia in charge of nearly 200 franchised dealerships in the UK.
Reports suggest that America's AutoNation car dealer group is considering increasing its bid for Pendragon to snatch it from rival Lithia Motors.
One of the potential suitors of Pendragon, the UK car dealer group at the centre of takeover talks with several prospective buyers, has publicly backed out.
US-based Lithia Motors could be set to take over Pendragon's dealership and leasing businesses in a £250 million deal which would leave Pinewood, Pendragon's software division, behind as a standalone entity retaining Pendragon's stock market listing.
Arden BMW and Mini has been taken over by US-based Lithia And Driveway, owner of Jardine Motors Group
