Editor’s Choice

Inchcape has agreed to sell its UK Retail operations to Group 1 Automotive UK, a wholly-owned subsidiary of Group 1 Automotive, for a cash consideration of approximately £346m. The transaction, expected to complete during Q3, is a part of Inchcape’s strategic decision to focus on its higher margin, capital-light, high returns, cash generative global Distribution business. Duncan Tait, group chief executive ...

Marshall franchise director Tim Murphy has parted ways with the dealer group owned by Constellation Automotive. Murphy said it was a “difficult” decision to make but the time was right to move on to look at new opportunities. Murphy had worked most recently at Marshall as franchise director JLR and before that franchise director for Audi. He had been operations ...

Pinewood is set to return £358m to shareholders following the sale of the Pendragon dealer group and leasing businesses to Lithia. The company made an announcement on Friday, detailing a proposal to return the sum to shareholders by way of a special dividend of 24.5 pence per existing ordinary share. Subject to shareholder approval the dividend is expected to be ...

Lookers has opened its £6 million new and used vehicle multi-franchise hub in Middlesbrough. Located off Cargo Fleet Lane and South Bank Road, the site is also home to dealerships for Ford and BYD. As well as multi-franchise vehicle sales, the centre will focus on all-electric driving and also specialises in service and maintenance, and cosmetic repair. Duncan McPhee, Lookers’ ...

Hyundai Motor UK plans to streamline its network with the aim of ensuring further profitability and an enhanced retail experience. While the transformation involves maintaining, and eventually growing, the number of showrooms it has nationwide, these showrooms will be operated by a smaller number of partners in order to build more invested relationships. Ashley Andrew, Hyundai Motor UK president, said: ...

  The EV market could experience aggressive financial incentives as car brands focus on accelerating the switch to electric, the audience of The Lead Agency webinar heard. Tony Whitehorn, former UK CEO and President of South Korean manufacturer Hyundai, explained in order to boost demand and hit certain targets to avoid fines under the Government’s ZEV mandate, manufacturers may offer ...

Steven Eagell Group has launched a community programme which will support initiatives, charities and not-for-profit organisations operating in the areas in which the company’s dealerships are located. The company’s employees will identify projects within their local communities and each dealership will be allocated a budget. Steven Eagell, ceo of Steven Eagell Group said: “We’re extremely excited to be launching our ...

Amidst an uptick in consumer demand, AutoTrader shares data revealing the used cars experiencing price growth and the used cars experiencing price contractions. The data, based on cars of all fuel types, draws comparison between prices from February 2023 and February 2024. Richard Walker, data and insights director at AutoTrader, said: “February was another positive month for the used car ...

Cazoo is pulling the plug on used car sales and switching its business model to a marketplace one, like Motors and Auto Trader. It said its platform will now serve the 13,000 car dealers operating in the used car market. The Cazoo board has been running the rule over the business since early December. Cazoo said the new model will ...

Jaguar Land Rover has unveiled a new “refined” franchised model with “key adaptions” marking a departure from its previously stated intention to switch to pure play agency in 2024. The model was revealed to investor partners ahead of its annual ‘Retailer of the Year’ conference and awards next week. Dealers welcomed the fact that their views had been taken into ...