Pendragon has revealed that it suffered a £117.4 million loss after tax in 2019 in an annual results statement that revealed the full impact of “significant H1 losses”.
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.
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.
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.
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.
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.
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 officially opened a new £3 million Evans Halshaw FordStore car dealership in Chester.
Aston Martin has announced a series of key leadership appointments after news that a consortium led by F1 race team owner Lawrence Stroll has acquired a 17% share of the British sports car maker.
Inchcape has appointed BP’s chief marketing officer, global retail and senior vice president, Alexandra Jenson, as a non-executive director.
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.
Vertu Motors has added to the recent flurry of acquisitions and disposals within the Volkswagen retail network with the £8.8 million acquisition of four dealerships from Sytner 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.
Pendragon has delivered an interim statement to share news of a 57.9% growth in underlying profit before tax as revenues and profits continued to decline amid mass site closures during Q3.
Having recently secured a major £120m bonds deal, Aston Martin appears to be banking on innovating its way through the current tough trading conditions and CEO, Andy Palmer, has promised that its ambitious investment plan can succeed.
Inchcape looks set to continue its recent round of business disposals after agreeing to sell its Inchcape Fleet Solutions (IFS) UK vehicle fleet management and funding division to Toyota for £100m.
Vertu Motors chief executive has said that maintaining the car retail group’s strategic “discipline” to achieve growth in turnover and profits during the six month period to August 31, 2019.
Inchcape has announced that its will leave the Chinese car retail market with the sale of its Lexus, Porsche and Mecedes-Benz dealerships in the country for over £54 million.
Lookers Group claims to have created “a true destination for everything Audi” with the official opening of its new 63,600sq-ft car dealership in Farnborough.
Inchcape has generated £76m with the disposal of six Volkswagen, BMW, Mini and Jaguar Land Rover (JLR) retail sites in Australia.
Automotive Management Live: Where franchised and independent dealers will find everything they need to know about operating a modern showroom and service and repair facility fit for the digital age.
When: November 12 2020
Where: Birmingham NEC
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