Pendragon will rebrand and restructure its Car Store used car division while driving digital innovation in a new growth strategy which it hopes will deliver an underlying profit before tax of £85m to £90m by 2025.
The Evans Halshaw, Stratstone and Car Store car retail businesses will have a “powered by Pendragon” prefix added to their name as part of a rebrand of the AM100 car retail group aiming to add confidence to car buying consumers.
Pendragon needs to refocus its Car Store used car supermarket strategy as it seeks out “self-help opportunities” in light of an operational business review which predicted that the group would make a significant loss in H1, 2019.
Pendragon’s new leadership team is conducting review of the car retail group’s operational and financial prospects as an interim management statement revealed Q1 pre-taxes losses which were ‘lower than expected’.
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