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Car Dealer News 2 SepPendragon's digital car sales strategy targets £85m to £90m profit by 2025
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.
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Latest News 4 AugThe AA attracts investors as it sets it sights on debt reduction
The AA has become a potential takeover target as it looks to raise funds to re-balance its books in light of a £2.65 billion debt.
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Car Dealer News 1 JulLookers share trading suspended after fraud probe delays 2019 results
Lookers has requested that the listing of its ordinary shares be temporarily suspended, pending publication of its 2019 annual financial results.
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Car Dealer News 24 JunLookers to shake-up board in search of ‘new skills and experience’
Lookers is preparing to shake-up its board of directors in the search for ‘new skills and experience’ to guide the AM100 car retail group through the next phase of its development.
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People News 22 JunHM Treasury appoints Nikhil Rathi as FCA chief executive
HM Treasury has appointed the current chief executive of London Stock Exchange Nikhil Rathi as the new permanent chief executive of the Financial Conduct Authority (FCA).
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Car Dealer News 4 Jun
Lookers to axe up to 1,500 jobs and close 12 more car dealerships
Lookers will close a further 12 car dealerships and cut its employee headcount by up to 1,500 as part of a restructure plan aiming to make annual savings of £50 million.
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Car Dealer News 3 JunVertu Motors announces acquisition intention in 2019 financial results
Vertu Motors declared an intention to add new manufacturer partners as it grows through acquisition in a 2019 results statement following its first two days of showroom trading since the COVID-19 lockdown.
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Car Dealer News 27 MayCaffyns to detail COVID-19’s ‘significant impact’ in annual results
Caffyns has praised its employees' response to the COVID-19 crisis as “outstanding” as it revealed the mitigation measures taken by the business in a trading update published this morning (May 27).
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Car Dealer News 7 May
Vertu Motors will ‘capitalise on opportunities’ after COVID-19 lockdown
Vertu Motors’ director have asserted that the group has sufficient liquidity to exit the COVID-19 coronavirus lockdown and “capitalise on trading opportunities” in an interim trading statement.
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Car Dealer News 24 Apr
Lookers widens fraud investigation after initial findings result in £4m charge
Lookers will expand its internal fraud investigations to its entire business after initial findings from one of its operating divisions resulted in an expected one-off charge of over £4 million in its 2019 financial results.
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Car Dealer News 8 AprPendragon donates 20% of CEO’s pay to NHS in COVID-19 impact mitigation plan
Pendragon has announced that 20% of chief executive Bill Berman’s pay will be donated to the NHS as employees across the group were furloughed and took wage cuts during the COVID-19 coronavirus lockdown.
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Supplier News 1 AprAuto Trader bosses take 50% wage cut amid coronavirus outbreak
Auto Trader’s board will forego at least half of their wages as many staff become “furloughed workers” as part of its COVID-19 coronavirus impact mitigation measures.
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Supplier News 19 MarCoronavirus: Auto Trader axes April fees in car retail support response
Auto Trader will suffer April losses of up to £7 million in a bid to help car retailers mitigate the impact of coronavirus by axing its April fees and deferring March payments for 30 days.
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Car Dealer News 12 MarLookers’ chief operating officer resigns amid falling share prices
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.
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Car Dealer News 10 Mar
Lookers delays annual financial results due to fraud investigation
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.
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Car Dealer News 3 Mar
Vertu Motors trading update highlights 2020 acquisition opportunities
Vertu Motors chief executive Robert Forrester suggested that the AM100 PLC will growth through the strong “pipeline of potential acquisition opportunities” in a trading update from the AM100 PLC.
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Car Dealer News 11 FebPendragon finds ‘replacement purchaser’ for California Chevrolet dealership
Pendragon has completed the £16.5 million sales of its Chevrolet dealership in Puente Hills, California, to JBR Automotive six months after agreeing the sale to another car retail group.
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Car Dealer News 29 Jan
Pendragon update claims ‘significantly improved’ H2 2019 performance
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.
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People News 25 Nov
Lookers recruits former HBOS CIO with 'valuable' regulatory expertise
Lookers has appointed former HBOS chief information officer Heather Jackson as a non-executive director of the company with effect from today (November 25).
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Opinion 11 NovGuest opinion: Shaken not stirred? Aston Martin slumps to £13m loss
James Bond’s favourite carmaker Aston Martin Lagonda last week recorded a £13m loss for the last quarter, pointing to tough trading conditions in the UK and Europe along with disappointing sales of its Vantage two-seater sports car.
