AM Online

HR Owen in talks to part with BMW

There is uncertainty over whether HR Owen will continue its links with BMW after announcing it is in talks to sell ‘some or all’ of its BMW dealerships.

HR Owen said: “Discussions are continuing, and a further announcement will be made when appropriate.”

The move comes after HR Owen completed a number of restructuring measurements last year, including selling off five Audi businesses to Spire Automotive and its PAG sites to Lookers.

Nick Lancaster, HR Owen chief executive, told AM last year HR Owen was looking to completely change the structure of the business by lowering its portfolio of franchises.

Lancaster has spent more than a year disposing of dealerships representing non-specialist brands because of the high costs associated with motor retailing in London and the south-east. “We are making HR Owen profitable again, have cash reserves and little debt, whereas previously we had substantial borrowings,” he added.

HR Owen has BMW a new car sales site Chiswick and used car, authorised aftermarket and corporate specialist businesses in West Drayton.



If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Login to comment

Comments

No comments have been made yet.