Lookers’ chief operating officer Cameron Wade has resigned his post with immediate effect as share prices at the AM100 car retail group declined to a record low.
Lookers has revealed that it will delay the publication of its 2019 annual financial results after finding evidence of potentially fraudulent transactions in one of its operating divisions.
Marshall Motor Holdings reported revenues rose for a fifth year since its IPO, rising 4.1% to £2.28 billion in the AM100 car retailer group’s latest set of annual financial results.
Cambria Automobiles has claimed that a shift towards luxury car retail enabled it to maintain profits as manufacturers adjusted vehicle supplies to mitigate the impact of new EU CO2 emissions regulations.
Inchcape reported a 1.3% increase in turnover and a 256% increase in its profit before tax in its full-year financial results for 2019.
PSA Group chairman Carlos Tavares has said that he is “eager to enter a new era” following the merger with FCA Group after revealing details of record financial results in 2019.
Stoneacre Motor Group has revealed detail of a 24.9% turnover increase in annual turnover and a 31.2% increase in pre-tax profits in annual financial results to April 31, 2019.
Group 1 Automotive boss Earl J. Hesterberg has said that the retail group had been able to overcome “serious challenges presented by Brexit uncertainty in the UK” in 2019 thanks to its “powerful US performance”.
Mitchell Group has reported an 8.6% rise in turnover and 13.6% rise in profit before tax to defy a challenging car retail market at its Cheshire Oaks multi-brand dealership site in 2019.
Lookers Group will target “improved operational execution” in 2020 following the appointment of Mark Raban as its new chief executive and Cameron Wade as chief operating officer.
Inchcape chief executive Stefan Bomhard has resigned his post with the car retail and import business to take up a position as the chief executive of Imperial Brands.
Pendragon has claimed that its performance “improved significantly” during the second half of 2019, as it carried out the closure of 22 of its nationwide Car Store used car dealership sites.
Vantage Motor Group has published details of a 14.3% decline in profit before tax in a set of 2018 financial results published a month after its acquisition in a management buy-out (MBO).
Crown Motors joined the Suzuki GB franchise with the opening of a new dealership location within its existing Honda showroom in Hendon, Essex.
Glyn Hopkin operations director Stuart Hodson has left the business to “pursue other opportunities” two years after taking up the post with the Romford-based retail group.
Cambria Automobiles has reported that it is “well positioned for 2020” despite suffering a 9.4% decline in new car sales in the first three months of its current fiscal year.
Pre-tax profits have dropped by 18.3% at the UK’s largest independent car dealer group Motorpoint.
2019 half-year pre-tax profits at Caffyns have plunged 92% from the same period in 2018 as it battled Volkswagen and Audi supply problems and “a difficult economic and political background”.
Cambria Automobiles’ transition towards luxury car sales with the opening of new Bentley, Lamborghini and McLaren showrooms has helped it to a 37.4% increase in profit before tax in its latest annual financial results.
Inchcape says it is on track to meet full year profit expectations following “significant strategic progress” to sell off dealerships.
