Caffyns, the AM100 car dealer group in southern England, has sold a Volvo dealership.
The business in Hove, near Brighton, also had a Ford retail dealership and has been bought by Dinnages Garages, which already represents Ford and Renault.
Caffyns said the £417,000 realised will be applied in reducing its debts and for reinvestment in the business.
Caffyns now represents Volvo in Eastbourne only, according to data from AMi (www.am-online.com/ami).
Caffyns has also exchanged contracts with Wilmington Homes for the £600,000 purchase of a vacant freehold site at Worthing on which it hopes to build a new Volkswagen dealership.
Once planning permission is gained, this development will replace Caffyns' current VW dealership in Goring-by-Sea.
As editor, Tim is responsible for the media content, planning and production of AM's multiple channels (AM print and digital magazines, website, social media and contributing to our events planning). He interviews and writes about as many franchised dealer groups and UK divisions of motor manufacturers as possible, to explore the issues facing UK motor retail and understand what solutions dealers and suppliers are using to overcome these.
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