After what has been described as the “topsy turvey” 2021, with trading challenges leading to record profits for many companies, AM looks back on its top 10 most read stories.
From acquisitions and consolidation, to moving from gasoline and diesel vehicles to electric vehicles (EV), adopting the agency retail model, and litigation, AM has it all covered and readers have picked it up.
As the AM team wishes you a Happy New Year and encourages retailers to take their first steps to make 2022 an award-winning New Year with contributions to the soon-to-be-upcoming AM Awards, we invite you to join in on the topics too ponder who have received the most attention in the past 12 months online.
- Marshall Motor Group’s Constellation Automotive offer of GBP 201.6 million “accepted”: On November 29, Constellation Automotive’s offer for EUR 201.6 million on the London Stock Exchange was “accepted”. The BCA and the Cinch owner confirmed that they had received “an irrevocable commitment to accept Marshall of Cambridge (Holdings) Limited’s offer” just two days after announcing their first rapport with leading AM100 PLC.
Stellantis car dealers announced terminations as part of the future sales plan: Block exemption rules on the 19th. Vauxhall, Peugeot, Citroen, DS Automobiles, Alfa Romeo, Fiat and Jeep franchisees were made aware of the changes in a virtual conference call with British boss Alison Jones and Vauxhall CEO Paul Willcox.
Robert Forrester, CEO of Vertu Motors, to appear on ITV’s Undercover Big Boss: On July 14, it was reported that Robert Forrester, CEO of Vertu Motors, would appear on the upcoming series of ITV’s hit reality TV series Undercover Big Boss . Forrester entered the showroom to learn more about the Vertu and Bristol Motors business after the series was commissioned for a new season.- Inchcape CEO is accused of “falsehood” as the JLR trafficking case is dismissed in the High Court: On October 18, a High Court judge reported that former UK chief executive officer of Inchcape, James Brearley, appeared ready to ” Telling falsehoods “after dismissing a case that a company act of negligence prevented him from opening a Jaguar Land Rover dealer in Wolverhampton. Brearley is pursuing a case alleging that negligent advice from Higgs & Sons had led to the failure of his plans to open his own JLR dealer in Wolverhampton after he stepped down from the management of former AM100 top flight Pendragon and made his own Company founded in 2015.
Trevor Finn, Former CEO of Pendragon, Joins Ford Super Dealer Hedin Group: On January 19, 2021 the news broke that Trevor Finn, former CEO of Pendragon, has been appointed non-executive director of the Swedish Hedin Group, after the company had the Ford had taken over from Sweden. Hedin Group announced earlier the same week that it had signed a contract with Ford Motor Company to act as both the country’s importer and retailer upon completion of the acquisition, which will include 74 retail locations across Sweden.
Marshall to Acquire £ 700M AM100 Group Motorline: Just over a month before Constellation’s bid to acquire Marshall Motor Group was officially announced, AM100 PLC secured a £ 64.5m acquisition of Motorline Holdings with 48 locations from the Obee family. The acquisition, funded from Marshall’s existing cash, added an instant scaled-up representation with Toyota, Lexus, and Hyundai to Marshall’s portfolio, and significantly increased representation for Nissan, Peugeot and Volkswagen, Audi, and Skoda.
Peter Vardy Leaves Vauxhall Franchise and Doubles Used Car Sales: The Peter Vardy Group set out to compete with Cazoo, Carzam and Cinch in early 2021 when they announced the rebranding and expansion of the used car retail business for improved sales and profitability in the 2019 financial statements. Motherwell-based auto dealership group AM100 announced on January 4th that it would be leaving the Vauxhall Motors franchise by the end of June and converting the six franchise dealership locations into used car supermarkets to start the Carz operation, which also Increase online sales using the Group’s digital auto trading platform SilverBullet.
Government plans to restrict sales of ICE vehicles ahead of 2030 ban: In February last year, AM reported measures to encourage car buyers to stay ahead of the government’s proposed 2030 ban on sales of new gasoline and diesel vehicles for Electric models to decide, expected to be introduced before the deadline. Dealers have been told they should expect a limited supply of ICE models by 2030, with government intervention likely to include penalty taxes on models with higher emissions.
Aston Martin Sues Car Dealers Over Valkyrie Hypercar Payments: In June it emerged that Aston Martin was suing a Swiss car dealer on charges of withholding customer payments for its flagship hypercar, Valkyrie, valued at £ 2.5 million. The British automaker is filing documents with the Swiss public prosecutor’s office to open an investigation into the boards of directors of Nebula Project AG and will also bring a civil lawsuit against the company.- Volkswagen is accused of “deception” after the beginning of April Fool’s joke: at the end of February last year
Volkswagen was accused of “deceiving” and spreading “misinformation” in the US after an early April Fool’s joke that suggested the German car brand was poised to rename “Voltwagen”. A press release from the brand’s US base in Auburn Hills, Michigan, titled “Volt Car: A New Name for a New Era of E-Mobility,” caused a stir on social media because it was a bizarre new brand On the other side of the Atlantic, a push towards electrification could be pending.
