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Pinewood, the software to dealer management systems provider is to rebrand its customer facing business as Pinewood.AI, whihc stands for Pinewood Automotive Intelligence.
It is also getting a new look “that puts tech at the heart of the business.” Pinewood was part of Pendragon before car retail and leasing side of the business was sold to Lithia. It now bills itself as a pure-play SaaS (Software as a Service) business.
The group today holding a Capital Markets Event for investors in which CEO Bill Berman and CFO Ollie Mann and other senior leaders from across the business will provide an update on the company’s strategy.
Pinewood announce that it is raising its guidance for underlying EBITDA in FY27 to £30m from £27m.
Bill Berman, CEO of Pinewood Technologies Group, (pictured) said: “We have largely completed the rollout of our products to the UK sites of our strategic partner Lithia and earlier this week we were awarded a contract with Marshalls, further strengthening our position in the UK.
Meanwhile, our strategic partnership with Lithia provides access to the extremely lucrative North American market and we remain on course to begin piloting our system in a number of Lithia stores in the second half of 2025, before the full North American system rollout starts during 2026.