Pendragon’s leadership team are today preparing for a shareholder revolt as Hedin Group joined other key stakeholders in stating it will vote against “out of tune” bonus payments.
Pendragon partially credited the “high degree of protection” against ‘Lockdown 3’ offered by its new digital approach to car retail for a £10.8 million underlying profit in Q1.
Car retail’s impressive response to the COVID-19 pandemic, the impending reopening of car showrooms after ‘Lockdown 3’ and the “Cazoo effect” have triggered rallying share prices for the sector’s PLCs.
Pendragon has completed the process of selling off its US-based Hornburg car retail division with the sales of its Jaguar Land Rover (JLR) dealership in Santa Monica, California.
Pendragon has reported an underlying profit before tax of £8.2 million in 2020 annual financial results which painted a picture of a COVID-19 impacted year of two halves for the car retail sector.
Independent used car dealer group Carbase has appointed former Pendragon Car Store division boss Chris Caygill as its new strategy innovation director and Richard Green as chief executive.
Waylands Automotive has joined the Kia Motor UK franchised network with the acquisition of Pendragon's Evans Halshaw car dealership in Reading.
Pendragon has completed the £16.3 million sale of its Hornburg Jaguar Land Rover (JLR) premium car dealership in Los Angeles, California.
Pendragon has revealed its plans to develop new BMW and Mini dealerships in Derby and Hull, bringing the two brands together under one roof for the first time at the two locations.
Former Pendragon chief executive Trevor Finn has been appointed as a non-executive director of Sweden’s Hedin Group after the business completed the acquisition of Ford of Sweden.
Pendragon's head of digital transformation, Owen Gill, has warned that the complexity of automotive products makes it hard for modern car buyers to transact online.
Pendragon has agreed to sell another of its Jaguar Land Rover dealerships in a £11.8 million deal.
Pendragon has said that it “almost entirely” offset its losses from a COVID-19 impacted first half of the year with an eight-fold increase in underlying pre-tax profits in Q3.
Eight members of staff have tested positive for COVID-19 at Pendragon’s Evans Halshaw Vauxhall car dealership in Wakefield.
The financial blow dealt by COVID-19 coronavirus lockdown contributed to a £31 million underlying loss before tax at Pendragon, the AM100 group has reported in interim results published today.
Motorpoint has said that its logistics staff have driven 86,000 miles to facilitate used car home deliveries since it launched the service during COVID-19 lockdown.
Pendragon has agreed the £27.4 million sale of its Jaguar and Land Rover motor vehicle dealership located in Los Angeles, California.
Tesla is poised to double the scale of its electric vehicle (EV) dealership network in Scotland with the opening of a new Glasgow store in a former Evans Halshaw Car Store showroom.
Motorpoint has said its online sales have seen a record month and it expects this part of the business to play an even bigger role in the company’s growth plans.
Pendragon will rebrand and restructure its Car Store used car division while driving digital innovation in a new growth strategy which it hopes will deliver an underlying profit before tax of £85m to £90m by 2025.
