Editor’s Choice

Pendragon has updated its profit before tax prediction for 2021 to £55m to £60m. The Group said that a strong close to June, combined with continued momentum in the used car market throughout July and the industry wide supply constraints have led to “exceptional gross profits per unit”. It added: “As at 30 June, the Group had a net cash balance ...

TrustFord, the factory-owned dealer group, has 40,000 advance orders for vans on its books as it goes into the second half of the year. TrustFord chairman and chief executive Stuart Foulds said with the shortage of semi-conductors impacting vehicle supply, the group was managing orders for Q3 and was hoping for a stronger Q4. “Q3 will be behind but Q4 ...

Read Motor Group has acquired Derby-based Beechdale Motor Group for an undisclosed sum. Beechdale has been in business since 1982, operated by John Oldfield. It holds the Hyundai, Alfa Romeo and Jeep franchises. Accounts filed at Companies House saw it deliver pre-tax profits of £266,875 on turnover of £29.9m in the year to October 2020. In June Alfa Romeo UK ...

Vertu Motors is launching an Enhanced Maternity Pay Scheme as part of its commitment to delivering a more gender balanced workforce. Vertu employees will be entitled to the scheme when they have been continuously employed by the group for at least 52 weeks. Under Statutory Maternity Pay (SMP) regulations employees  can take up to 52 weeks’ maternity leave with 39 ...

Stellantis has outlined plans to overhaul the distribution of its car brands in the UK to be complete by 2027. The group has terminated the current distribution contracts for networks. In the UK Stellantis distributes Alfa Romeo, Citroen, DS Automobiles, Jeep, Peugeot and Vauxhall cars. This will inevitably mean, in many cases, a restructuring of dealer numbers. Most immediately, in ...

Group 1 Automotive, has bought Robinsons Motor Group in East Anglia for an undisclosed sum. Robinsons has nine dealerships representing Audi, Skoda, Seat, VW, Citroen and DS with locations in Norwich, Peterborough, Lowestoft and Ipswich. Robinsons Motor Group previously sold five Mercedes-Benz dealerships to the Group 1 in 2018. Robinsons is ranked 67 in the Motor Trader Top 200 Dealer ...

Yorkshire-based DM Keith has acquired Ringways Motor Group for an undisclosed sum. DM Keith, which currently represents Skoda, Seat Cupra and Honda, is rated 93 in the Motor Trader Top 200 Dealer Groups with annual turnover of £149.9m. Ringways Motor Group is rated 134 in the Top 200 with annual turnover of £84.5m. It is the biggest acquisition by the ...

New car registrations in June grew 28% year-on-year to 186,128, according to the Society of Motor Manufacturers and Traders (SMMT)’s latest figures. The monthly performance was artificially lifted through comparison with June 2020, when the UK began to emerge from the first pandemic lockdown and showrooms in England opened up at the beginning of the month. Compared with the previous ...

Disruptors in the used car market face ‘real problems’ due to market shortages. That’s the view of TrustFord CEO Stuart Foulds who said dealers were holding onto a higher percentage of part-exchanges in the current market. “In many ways the disrupters who have come into the market have a real problem on their hands trying to find stock. “The majority ...

An ‘exceptional’ used car market with rising values is set to drive Vertu to full year profits ahead of expectations in the range of £28m to £32m. In a trading update it said it had seen a continuation of the strong trading trends witnessed in March and April and if these trends continue it expects to deliver a strong first ...