A second offer in three days has been made for Pendragon. The offer has sent shares in the business up more than 12%, raising the prospect of a bidding war for the dealer group. The new offer of 28 pence a share for the whole of Pendragon comes from Swedish firm Hedin Mobility Group and […]
Read More →US group Lithia has agreed to buy Pendragon’s UK auto retail and leasing operations, including the Evans Halshaw and Stratstone divisions, for £280 million. Under the agreement, the Pendragon PLC business will continue as a listed company, but operating only its Pinewood software business. It will be renamed Pinewood Technologies PLC. Lithia Motors will pay […]
Read More →MG Motor plans to complete its UK dealer network by the end of 2023. The company aim to fill nine open points. Commercial Director Guy Pigounakis commented: “We will fill every major open point we have in the UK,” before adding that his company had benefitted from established manufacturers appearing to consider moves away from […]
Read More →BMW and MINI retailer Vines saw profit before tax grow from £3.9m to £5.7m in the year ended December 2022. The company’s turnover increased from £196.2m to £218.6m. It is the third year running of profit growth, following several years of losses up to 2021. Although service labour margins were up, it warned the proliferation […]
Read More →The £504m takeover of Lookers by Global Auto Holdings got the go ahead this week at a shareholders meeting. Global is paying 130p per share for the company after it revised the offer upwards from 120p, which had been rejected. In June Canadian dealer group Global Auto Group, a sister company of Group Auto Holdings, […]
Read More →Hendy Group is to open its first Vauxhall retailer. Following the asset purchase of the former Eden Vauxhall site in Poole, it has agreed to sell Vauxhalls in Salisbury. The company is also opening a Peugeot and Vauxhall retailer in Kent. Hendy already represents Maserati but the new sites are its first large-volume Stellantis retailers. […]
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