South African firm Motus has bought Pentagon Motor Holdings for an undisclosed sum. Motus Corporation acquired Pentagon though the South African’s vehicle division Imperial Holdings.
VW Group is considering a scrappage scheme for owners of older diesel cars in the UK, according to reports.
National sales companies are adjusting new car sales targets in the light of slowing sales, according to Perrys chairman Ken Savage.
Pendragon has delivered financial results for the first half of 2017 ahead of expectations with revenue up 6.3% across all its businesses, and UK Motor revenue up 4.4% to £2.23bn. The growth was largely driven by used car sales, which were up 20.9% on a like for like basis with used car gross profit up 12.5% (like for like).
Car comparison site Carwow has secured £30 million of financing from new investor, Vitruvian Partners and existing investors Accel Partners and Balderton Capital.