Cambria Automobiles chief executive Mark Lavery has agreed an improved management buy-out offer of £82.5 million with the AM100 PLC’s board or directors.
Group 1 Automotive president and chief executive Earl J. Hesterberg has predicted the release of “several years” pent-up demand in the UK car retail sector.
Strong demand from car buyers and good levels of stock in the first half of the year have prompted Pendragon to upgrade its pre-tax profit guidance for 2021 by 20%.
Lookers has said that a positive swing in performance that will see 2020’s H1 loss of £50 million converted into a £50m pre-tax profit in the first half of this year.
TrustFord chairman and chief executive Stuart Foulds has expressed “pride” in his workforce’s delivery of a £13.6m pre-tax profit in the first half of 2021.
Chorley Group has closed all its dealership sites to mark July 19’s so-called ‘freedom day’ with a break for its workforce.
Marshall Motor Group chief executive Daksh Gupta has confirmed that the AM100 car retail PLC will maintain all COVID-19 social distancing measures after July 19’s ‘freedom day’ – including face masks.
DM Keith has completed the acquisition of the Leeds-based Ford and Kia franchised car retail business Ringways Group.
Inchcape UK will reassert its commitment to growth with the creation of an all-new standalone used car sales division and a series of large-scale dealership development projects.
Lookers chief executive Mark Raban has told AM that he is positive about the group’s future after overcoming a “perfect storm” of legacy issues and COVID-19 to report positive 2020 annual financial results.
Peter Vardy Group has officially left the Vauxhall franchise network and launched its Carz Supermarkets brands at the six Vauxhall sites across Scotland.
Lookers has said that it can now “look to the future with confidence” after emerging from the most challenging period in its history.
Major Pendragon shareholder Anders Hedin has once again questioned bonus payments to CEO Bill Berman in an open letter to the AM100 PLC’s other investors.
TrustFord chairman and chief executive Stuart Foulds has said he was “relatively pleased” with the group’s COVID-impacted 2020 financial results – despite recording a £5.2m pre-tax loss.
Marshall Motor Group chief executive Daksh Gupta has given an insight into how the AM100 PLC will continue to adapt to the changing car retail market after a “pretty special” start to 2021.
Lookers will report its 2020 annual financial results on the Financial Conduct Authority’s (FCA) June 30 reporting deadline after announcing a "short delay" in publication.
Hendy Group is targeting a July completion date for its new Lotus Cars dealership development in Exeter – the last of three new franchised sites with the performance car brand.
Marshall Motor Group expects to deliver record underlying profit in 2021 after riding the automotive retail sector’s positive tailwinds of customer demand and appreciating used car values.
Cambria Automobiles could be trading as a private company by July 29 after a timeframe for the proposed management buy-out by chief executive Mark Lavery was decided this week.
Vertu Motors shareholders voted 32.4% against the remuneration and bonuses of the PLC’s leadership team in a show of dissent against the payments.
