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 →The Peter Vardy Group is to hold launch events for its new MG dealerships in Edinburgh and Kirkcaldy on Saturday 12 August. The portfolio expansion to its MG dealerships is part of Peter Vardy’s pledge to offer customers a wider choice of cars. “We are delighted to introduce the MG brand to Edinburgh and Kirkcaldy,” […]
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 →Suzuki UK and Ireland director Dale Wyatt has revealed retailers recorded record net profits in the first half of 2023, with average return on sales improving to 2.6%. The average solus Suzuki retailer has a 3.3% return on sales – and the upper quartile are enjoying a 5.4% return. Average net profit is up 50% […]
Read More →Canada’s Alpha Auto, through its UK entity Global Auto Holdings, has increased its takeover offer for Lookers to 130p a share. Global Auto Holdings, referred to as Bidco, has also announced that the increased offer will switch to a takeover offer for Lookers. Today’s takeover offer differs from the original scheme offer in the way voting for […]
Read More →Inchcape JLR Preston says, despite speculation, an electric vehicle was not the cause of the huge fire it suffered back in April. It began in the top floor of the retailer, and was likely the result of an electrical fault. More than 60 firefighters and 10 fire engines attended the blaze. Lancashire Fire and rescue […]
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 →Mercedes-Benz Retail Group accounts for the year ended December 2021 were published last week. They showed a profit before tax of £29.9m. However, the retail group also voluntarily restated its 2020 results, after discovering mistakes. This saw loss increased from £19.7m to £20.3m. Mercedes-Benz Retail Group CFO Tim Schoeler has officially left the business. His […]
Read More →Ian Filby is to step down as Pendragon chair after less than two years in the role. The search for a successor is now underway. Ian, a veteran Boots executive and former chief of DFS, will remain in his non-executive chairman role until a replacement is found. The directorate change was announced ahead of Pendragon’s […]
Read More →OEMs who have moved to agency are yet to be fully tested on their skills at selling cars compared to traditional retailers. “The lessons learned are limited when supply is restricted,” said the ICDP’s Steve Young during a panel discussion at the Automotive News Europe Congress. It has been easy for OEMs such as Mercedes-Benz […]
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