After what has been described as a 2021 ‘upside down survey’, with business challenges resulting in record profits for many companies, AM looks back on its 10 most read stories.
From acquisitions and consolidations, to switching from gasoline and diesel cars to electric vehicles (EVs), adopting the agency-based retail model and court cases, AM has it covered and readers have it. read.
As the AM team wishes you a Happy New Year and encourages retailers to take their first steps towards making 2022 another award-winning year with AM Awards nominations fast approaching, we also invite you to reflect on the issues that have been happening. the most attracted attention. online in the last 12 months.
- Constellation Automotive’s £ 201.6million offer from Marshall Motor Group ‘accepted’: On November 29, Constellation Automotive’s £ 201.6million offer for a controlling 64.4% stake in Marshall Motor Group has been described as a “deal made” after a “pledge to accept” was published via the London Stock Exchange. The owner of BCA and Cinch has confirmed that he received “an irrevocable commitment to accept the offer from Marshall of Cambridge (Holdings) Limited” just two days after the disclosure of his initial approach to the top AM100 PLC.
Stellantis auto dealers have issued termination notices as part of a future distribution plan: On May 19, Stellantis revealed that it will send all its UK and EU franchise car retail partners termination notices two years as part of a reorganization of its distribution networks before the introduction of new Block Exemption Rules. Franchisees of the OEM giant’s Vauxhall, Peugeot, Citroën, DS Automobiles, Alfa Romeo, Fiat and Jeep franchises were alerted to the changes during a virtual conference call with UK boss Alison Jones and Vauxhall chief executive Paul Willcox.
Vertu Motors CEO Robert Forrester to Appear in ITV’s Undercover Big Boss: On July 14, AM announced that Vertu Motors CEO Robert Forrester will appear in the next series of ITV’s hit TV series Undercover Big Boss. Forrester visited the showroom to learn more about the activities of Vertu and Bristol Motors after ordering the series for a new season.- Inchcape CEO Charged With ‘Untruths’ As High Court Dealer JLR Case Dismissed: On October 18, AM reported that a High Court judge found the former CEO of Inchcape in the UK, James Brearley, seemed poised to “tell untruths” after dismissing a case that a company negligence law prevented him from opening a Jaguar Land Rover dealership in Wolverhampton. Brearley had pursued a case alleging that negligent advice from Higgs & Sons led to the failure of his plan to open his own JLR dealership in Wolverhampton after he resigned as manager of the former AM100 Pendragon group and established his own company in 2015.
Former Pendragon CEO Trevor Finn Joins Ford’s ‘Super Dealer’ Hedin Group: On January 19, 2021, announced that former Pendragon CEO Trevor Finn has been appointed non-executive director of the Swedish group Hedin after the completion of the Ford acquisition. from Sweden. The Hedin Group announced earlier the same week that it had reached an agreement with Ford Motor Company to fulfill a role of both importer and retailer in the country after finalizing the acquisition, which includes 74 retail locations in retail across Sweden.
Marshall acquires £ 700million from AM100 Motorline group: Just over a month before Constellation’s offer to acquire Marshall Motor Group was formalized, AM100 PLC secured a £ 64.5million takeover Motorline Holdings, which has 48 locations, to the Obee family. The acquisition, funded from Marshall’s existing cash resources, added immediate full-scale representation with Toyota, Lexus and Hyundai to Marshall’s portfolio and significantly increases its representation of Nissan, Peugeot and Volkswagen, Audi and Skoda.
Peter Vardy to leave Vauxhall franchise and double used car sales: The Peter Vardy group decided to go head-to-head with cazoo, carzam and cinch in early 2021 when he announced the rebranding and expansion of the used car retail division following improved sales and profitability in its 2019 full year financial results. Motherwell-based AM100 car retail group revealed on Jan. 4 that It would exit the Vauxhall Motors franchise by the end of June and turn the six franchise franchise sites into used car supermarkets as part of the creation of Operation Carz, which will also boost online sales at the help from the group’s SilverBullet digital car retail platform.
The government plans to cut sales of ICE cars ahead of the 2030 ban: In February last year, AM reported that measures to encourage car buyers to switch to electric models ahead of the planned ban. the government in 2030 the sale of new gasoline and diesel cars are expected to be introduced before the deadline. Dealers have been told to expect a tight supply of ICE models by 2030, with government intervention likely to include punitive taxation on higher-emitting models.
Aston Martin to sue car dealership over payments for the Valkyrie hypercar: In June, it emerged that Aston Martin was set to sue a Swiss car dealership over allegations it withheld payments from customers for its flagship £ 2.5million Valkyrie hypercar. The British automaker is filing documents with the Swiss criminal prosecutor asking it to investigate the members of the board of directors of Nebula Project AG and will also take civil action against the company.- Volkswagen accused of “deception” after April Fool’s joke: end of February last year
Volkswagen has been accused of “deception” and spreading “disinformation” in the United States following an April Fool’s Day which suggested that the German car brand was ready to change its “Voltswagen” brand. A press release from the brand’s US base in Auburn Hills, Michigan, titled “Voltswagen: A new name for a new era of e-Mobility,” caused a stir on social media as it appeared as a bizarre rebranding linked to its push towards electrification could be considered across the Atlantic.
