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.
Cambria Automobiles is embarking on series of cost-cutting measures which will include a "significant reduction" in employee headcount due to the impact of COVID-19 lockdown.
Motorpoint has reported that business at its 13 used car supermarkets has been “comfortably ahead” of 2019 in the period since the COVID-19 lockdown restrictions were eased on June 1.
Inchcape is driving forward plans for a restructure to be completed by Q1 next year after reporting a 36% decline in overall revenues and pre-tax losses of £188 million in the first half of 2020.
Vertu Motors has taken the decision to cut 345 jobs as it looks to future proof its operations through increased automation in the wake of the COVID-19 lockdown.
Lookers will close a further 12 car dealerships and cut its employee headcount by up to 1,500 as part of a restructure plan aiming to make annual savings of £50 million.
Caffyns has praised its employees' response to the COVID-19 crisis as “outstanding” as it revealed the mitigation measures taken by the business in a trading update published this morning (May 27).
Lookers will expand its internal fraud investigations to its entire business after initial findings from one of its operating divisions resulted in an expected one-off charge of over £4 million in its 2019 financial results.
Cambria Automobiles has claimed that a shift towards luxury car retail enabled it to maintain profits as manufacturers adjusted vehicle supplies to mitigate the impact of new EU CO2 emissions regulations.
Vertu Motors chief executive Robert Forrester suggested that the AM100 PLC will growth through the strong “pipeline of potential acquisition opportunities” in a trading update from the AM100 PLC.
Lookers Group will target “improved operational execution” in 2020 following the appointment of Mark Raban as its new chief executive and Cameron Wade as chief operating officer.
Cambria Automobiles has reported that it is “well positioned for 2020” despite suffering a 9.4% decline in new car sales in the first three months of its current fiscal year.
Motorpoint Group has predicted reduced half-year profits ahead of its annual general meeting this morning.
Lookers has reported growing turnover and profitability across new and used car sales and its aftersales operations in a trading update announced at its AGM today.
Vertu Motors chief executive Robert Forrester has said that the group is “well positioned to take full advantage of tougher markets” in a trading update for the AM100 car retail group.
Cambria Automobiles has reported that increased profit per unit generated by its luxury franchise portfolio helped to mitigate the effects of a 24.9% slump in new car sales during the three months to the end of November.
Lookers has reported new car margins and profit per unit for both new retail and fleet cars were higher year-on-year in a trading update on the year to September 30.
Lookers reported a positive trading performance in the third quarter, with a strong result in the key plate-change month of September.
