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Car Dealer News 27 AprInchcape’s Q1 car retail revenues 'adversely impacted' by agency model shift
Inchcape chief executive Duncan Tait said that the automotive distribution and car retail PLC had made an “excellent start to 2023”, despite the adverse effects of certain OEMs’ shift to a direct-to-consumer agency model.
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Car Dealer News 19 AprPendragon’s ‘strong start’ to 2023 delivers 23% rise in pre-tax profits
Pendragon’s board expects the AM100 car retail PLC to “comfortably outperform” its previous expectations for 2023 after delivering a 23% rise in underlying pre-tax profits during Q1.
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Car Dealer News 5 AprLookers reports ‘strong momentum’ in 2022 annual financial results
Lookers chief executive Mark Raban has said that he is “delighted” with the car retail group’s 2022 financial results performance in light of the “supply disruption, inflation and rising interest rates” experienced in the period.
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Car Dealer News 6 MarLookers boosts fleet and leasing business with Fourways Vehicle Solutions acquisition
Lookers has acquired £3.8 million turnover fleet and leasing business Fourways Vehicle Solutions to grow its customer base in the corporate sector.
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Car Dealer News 2 MarVertu Motors asserts ‘scale is a key success factor’ in five-month trading update
Vertu Motors has asserted that ‘scale is a key success factor’ in automotive retail in a five-month trading update detailing its rapid expansion the addition of new dealership operations across the UK.
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Car Dealer News 8 Feb
Constellation Automotive owner TDR Capital acquires stake in Vertu Motors
Constellation Automotive owner TDR Capital has extended its presence in the car retail sector with the purchase of a 3.1% share in Vertu Motors.
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Market Insight 25 JanLithia Motors’ Jardine takeover talks highlight UK's ‘undervalued’ car retail PLCs
Lithia Motors’ Jardine Motor Group takeover talks have highlighted the undervaluation of UK car retail businesses, analysts have claimed.
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Car Dealer News 25 Jan
Pendragon predicts ‘better than expected’ 2022 financials after Q4 growth
Pendragon has said that car sales growth in Q4 helped propel it to a “better than expected” 2022 financial performance in a trading update published this morning (January 25).
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Car Dealer News 11 Jan
Lookers raises 2022 profit expectations and adds new car franchises
Lookers has raised its 2022 full-year profit expectations to over £80 million and revealed plans to add further to recent new car franchise additions Lotus Cars and Ora.
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Car Dealer News 9 DecHedin Group withdraws £411m Pendragon takeover offer
Swedish car retailer Hedin Mobility Group has withdrawn its £400 million takeover offer for Pendragon due to “challenging economic conditions”.
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Acquisitions and deals 21 Nov
Hedin Group’s Pendragon ‘put-up or shut-up’ takeover deadline extended
Hedin Group’s ‘put-up or shut-up’ deadline for a takeover offer for Pendragon PLC has been extended to December 9.
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Car Dealer News 9 NovVertu in ‘advanced discussions’ over acquisition of £627m turnover Helston Garages
Vertu Motors has revealed that it is engaged in “advanced discussions” over the potential acquisition of £512 million turnover premium car retailer Helston Garages Group.
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Car Dealer News 18 OctLookers forecasts full-year profits ‘not less than £75m’ in Q3 trading update
Lookers increased its full-year profit expectations to £75 million and kicked-off a £15m share buyback programnme after reporting strong performance in a Q3 trading update.
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Car Dealer News 5 OctVertu CEO says group could grow ‘anywhere at any time’ as it scales the AM100
Vertu Motors chief executive Robert Forrester has said that the car retail giant could grow “anywhere at any time” after revealing H1 results which suggest it is scaling the AM100 rankings.
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Car Dealer News 29 Sep
Hedin Group removes block on rival Pendragon takeover bids
Hedin Group has withdrawn its move to block rival bids for AM100 car retail group Pendragon after a “surprise” announcement from the PLC’s board.
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Car Dealer News 28 Sep
Pendragon accelerates ‘comprehensive review’ in light of Hedin takeover bid
Pendragon is accelerating its plans to conduct a “comprehensive review” of its business in light of Hedin Group’s £411 million bid to take over the PLC.
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Car Dealer News 26 Sep
Hedin Group makes ‘highly conditional’ £411m takeover offer for Pendragon
Swedish car retailer Hedin Group has tabled its second takeover bid for Pendragon in six months – this time “highly conditional” 29p per share offer.
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Car Dealer News 16 Aug
US-based car retailer Lithia Motors linked with Pendragon takeover bid
US-based Lithia Motors is said to have been identified as the “large international corporate” which launched a £460 million takeover bid of Pendragon.
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Car Dealer News 5 Aug
Major shareholder blocks £460m Pendragon takeover talks
One of Pendragon’s five major shareholders has blocked a takeover bid launched for the AM100 car retail PLC by “a large international corporate”.
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Car Dealer News 20 Jul
Pendragon’s £33m profits deliver ‘good momentum’ ahead of H2's challenges
Pendragon chief executive Bill Berman has said that an anticipated £33 million underlying first-half pre-tax profit will give the car retail PLC “good momentum” for H2 2022.
