British sports car maker Caterham Cars has been acquired by Japanese importer and AM100 franchised car retail group owner VT Holdings.
The move takes the iconic lightweight brand out of British ownership for the first time in its 48-year history, according to a report in Autocar magazine this week.
Caterham, which added its latest UK franchisee in the form of Krazy Horse in Bury St Edmunds last October also has dealerships in Cheshire, Towcester, Bristol and Gatwick but exports to 20 overseas markets – accounting for 60% of all its sales.
VT Holdings owns Wessex Garages and CCR Motor Group in the UK and has been Caterham's Japanese importer since 2009, claiming to sell more than 120 Caterham cars per year in the region.
It also operates a network of over 200 franchised car retail sites in Japan.
Login to continue reading
Or register with AM-online to keep up to date with the latest UK automotive retail industry news and insight.
In this spotlight issue:
Will flexible working ever suit today's dealerships?
Some cite motor retail's lack of flexibility as a barrier to recruitment. Can it do more?
Buyers still want help with their car purchase
Consumers continue to value point-of-sale finance and insurance
Is part exchange losing power?
Ways dealers can still compete effectively against car-buying platforms
Overcoming complexity in aftersales
How to optimise the efficiency of a franchised workshop
Papering over the omnichannel cracks
Progress has been made, but the end goal continues to remain out of reach
Read now
Login to comment
Comments
No comments have been made yet.