Editor’s Choice

Pendragon turned in a strong first half performance with underlying pre-tax profits down -4.6% to £35.1m on turnover up 1.6% to £1.8bn. The group sold fewer cars but made more money on them. New gross profit per unit surged 59% to £2,576 and used gross profit per unit rose 22.7% to £1,676.  New volumes fell -17.5% and used volumes -13.7% ...

Polestar will open its UK flagship Space at Battersea Power Station on Friday 14 October 2022, when the Grade II listed building opens its doors to the public for the first time in history. Featuring the same minimalist design that all Spaces are now known for, Polestar Battersea Power Station will be situated on the ground floor near to the building’s ...

Pendragon said today that a potential takeover of the company had failed because a major shareholder had not given its backing to the deal. It said following a period of due diligence “a large international corporate” presented a board-approved non-binding offer of 29 pence per share, valuing the company at £460m. The proposal dependent on the approval from Pendragon’s major ...

As a woman in a traditionally male-dominated arena, did you ever feel patronised? If so, how do you handle it? When reflecting on a career that started realistically back in 1987, I do realise now just how patronising some people (usually men) were. At the time I fought a hard battle, went to work every day, did my job and ...

JCT600 has completed the acquisition of Volkswagen Van Centre West Yorkshire Ltd. The well-established operation with dealerships in Cleckheaton and Leeds will complement the group’s existing Volkswagen van retail outlets in York, Hull and Sheffield, along with its van servicing centre in Leeds. With five dealerships, JCT600 believes it will be the largest Volkswagen van retailer in the UK. The ...

Cazoo losses in the first half of 2022 more than doubled to -£243m year on year while turnover accelerated 153% to £628m. The volumes of vehicles sold rose 113% to 43,668 units. UK retail GPU was £226 compared to £315 last time. Gross profit for the period was £3m compared to £11m in the first half of 2021. Gross margin ...

Group 1 in the UK has a back order for 17,000 new cars going into 2023 as it deals with supply constraints. “Our new vehicle order bank of 17,000 units represents more than a six-month backlog based on first half unit sales,” said Group 1 CEO Earl Hesterberg. “We continue to believe the pent-up demand built over the past several ...

Inchcape has announced that Group revenue hit £3.9bn in H1, up 12% on an organic basis and 8% reported. It also saw adjusted profit before tax of £184m (1H21: £121m), driven by topline growth and improved operating margins. Along with the interim results, Inchcape also announced its acquisition of Derco, the largest independent automotive distributor in Latin America, for a ...

Nissan Motor (GB) has sold its 13 West Way sites it owns to a handful of dealer groups. The acquisitions will be completed by the end of August, with 450 West Way employees transferring. The latest results filed at Companies house saw Westway turning in £9.1m pre-tax loss in 2020 on turnover of £285.5m. Yeomans will acquire sites in Aldershot ...

The UK’s rocketing electricity prices will slow the transition to electric vehicles in coming years. That’s a key finding of the SMMT Sustainability Report 2022 which said that the rise in energy costs, and industry and government’s desire to move to net zero, have ensured that energy has become an increasingly significant issue for the automotive sector. Energy is the ...