AM Online

£2bn Finn prepares for EU sales move

Pendragon, the AM100-topping dealer group, is to expand its operations in continental Europe. Chief executive Trevor Finn said the company planned to open more dealerships in Germany this year before moving into other European markets.

Mr Finn said it was critical to achieve a “certain scale” in one country before moving on. Pendragon opened two Jaguar dealerships in Frankfurt, Germany, in 1992 and bought a third site last year.

The next new Jaguar business should open before the end of this year. A push into Europe by leading AM100 groups has been expected because UK motor retailing is so highly developed.

But Finn made it clear mainland Europe expansion would not be at the expense of local growth.

“If you look at any retailing business model we could grow quite significantly still, even in a purely UK context,” he said. “In relative terms, we are insignificant in terms of scale against the global car manufacturers.”

Pendragon, which acquired Evans Halshaw and Lex Retail in the past 15 months, now operates from more than 200 franchise points.

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