The Dick Lovett Group is to take on the Ferrari and Maserati franchises for south Wales and the west of England. Once local authorities give the green light to blueprints for developments, dealerships will be set up in Cardiff and Bristol.

Lovett says it expects an increase in sports cars sold in these territories which will introduce Maserati to a new area of the UK and finance further expansion in line with Ferrari and Maserati strategy. The move comes after the group paid an undisclosed sum for Mortimer Houghton Turner (MHT) - a specialist Ferrari franchise covering the Cotswolds and south Wales, founded in October 1990.

Lovett says there will be no management changes at MHT. Andrew Turner and Bob Houghton will continue as executive directors.