The latest ICDP: European Top 50 Dealer Groups 2022 has concluded that carmakers are increasingly attracted to working with fewer, larger dealer groups who are more process driven with superior IT systems. The report detailed the consolidation taking place across Europe with larger groups acquiring smaller owner-operators. Report authors Steve Young and Peter Bailey said: […]
Read More →It has been announced that the SLM Group has bought SMC Motor Group for an undisclosed sum. New Brands SLM Group operates dealerships in East Sussex, Kent and East Anglia, including five Toyota, one Vauxhall, one Suzuki, one GMW ORA dealerships. They also operate two used car SLM Select businesses and two body repair Centres. […]
Read More →Lookers’ £6m Teesside Car Hub used car retailer has been given the green light from Middlesborough Council. It is set to open later in 2023 and will create additional jobs, taking its staff numbers in the area to around 200. The 25,000 sq/m site, located alongside its new BYD franchise, will also accommodate a standalone […]
Read More →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 →Lookers has reported a drop in underlying profitability and gross margins in the first half of 2023 following record figures for the past two years. The group’s underlying profit figure was down £1.1 million at £46.1m on a turnover that was up 8.0% at £2.42 billion. Lookers, which is currently the subject of a takeover bid by Canadian […]
Read More →Smart is increasing its initial target of showrooms from 34 to more than 40 to improve geographic coverage. Speaking exclusively to Auto Retail Agenda last week, UK Smart Managing Director David Browne said the network currently had 23 sites and was partnered with 17 groups. His original target of 34 locations will be hit by […]
Read More →Cazoo head of operations James Dower is to leave the business on 31 August. He said he had been proud to lead a “hugely effective operational team that have delivered incredible efficiencies and outstanding performances across the wholesale business. “To the site, field inspection, imaging and logistics teams I would like to say a huge […]
Read More →As exclusively revealed by Auto Retail Agenda last weekend, Genesis has today announced its UK retail partners, following the luxury brand’s switch from direct sales to the agency model. Ancaster Group, Arnold Clark, Hendy Group, Holdcroft Group, Pendragon, Richmond Motor Group and Sinclair Group are the seven retail partners set to complement the three existing manufacturer-owned Genesis […]
Read More →