Pendragon has officially reopened its Stratstone BMW and Mini car dealership in Hull following a major refurbishment.
US-based Lithia Motors is said to have been identified as the “large international corporate” which launched a £460 million takeover bid of Pendragon.
One of Pendragon’s five major shareholders has blocked a takeover bid launched for the AM100 car retail PLC by “a large international corporate”.
Inchcape is “confident” of achieving its mid-term growth plans after delivering 53% growth in its adjusted pre-tax profits in the first half of 2022.
Motorpoint has added plans for a Coventry used car supermarket sites to its expansion plans for Edinburgh and Milton Keynes after growing its Q1 revenues by over 30%.
Pendragon chief executive Bill Berman has said that an anticipated £33 million underlying first-half pre-tax profit will give the car retail PLC “good momentum” for H2 2022.
Cambria Automobiles marketing and CRM director Ian Godbold has revealed his intention to pursue a new role as a car retail marketing consultant after announcing his exit from the former PLC.
Steven Eagell is set to grow its car retail market territory and its portfolio with Toyota through the acquisition of Inchcape’s car dealership in Oxford.
Prisoners' welfare charity Junction 42 has revealed how a £140,000 donation from car retail group Vertu Motors has helped with its work.
Vertu Motors has further strengthened its online automotive parts retail business through the £3.5 million acquisition of e-commerce specialist Wiper Blades Ltd.
Pendragon has broadened the footprint of its Sell Your Car and Click and Collect used car retail services with the opening of 10 Carstore Direct sites at Morrisons and Homebase stores across the UK.
Lookers has said that it will maintain its relentless focus on operational optimisation and cash management as “significant inflationary pressures” impact car retail sector’s trading performance.
Vertu Motors has said that it remains focused on the delivery of operational excellence around cost, conversion and customer experience as car retail’s headwinds deliver uncertain H2 outlook.
Pendragon has vowed to formulate new remuneration policy after its shareholders voted 65.5% against its plan to hand over multi-million bonuses to its leadership team.
Inchcape’s global car distribution operations have driven its year-to-date financial performance to ‘exceed expectations’, a trading update has revealed.
Carwow founder and chief executive James Hind has told AM that the online car marketplace might go public to raise more funds but added that “now is not a great time”.
Pendragon remuneration committee chair Mike Wright has left the car retail PLC after it emerged that the business looked set to face a third successive AGM shareholder revolt over its leadership bonuses.
Pendragon’s leadership team could be set to face another shareholder revolt over “inappropriate” financial bonuses – a year after their last showdown with investors.
AM100 car retail PLC Caffyns plans to open new Lotus and Volvo dealerships after post-lockdown trading delivered a 26.3% rise in revenues and 207.9% surge in pre-tax profits in 2021/22.
Former Marshall Motor Group chief executive Daksh Gupta has said the “time is now right for me to explore new opportunities” following the announcement of his departure from the AM100 car retail group.
