Auto Retail Agenda: 30 December 2019
29 December 2019
- TONY BRAMALL BOOSTS LOOKERS STAKE
- MOTORPOINT LAUNCHES SAYE SCHEME
- ARNOLD CLARK TAKES ON TOYS ‘R’ US SITE
- BARRETTS LEAVES CITY CENTRE AFTER 117 YEARS
- PENDRAGON COMPLETES JLR CALIFORNIA SALE
- BMW INVESTIGATED BY SEC
- STOCKWATCH – 2019 performers: Motorpoint biggest riser, Pendragon biggest faller
- LAUNCH DIARY – Audi RS6, RS7 Sportback
- COMING UP – Nationwide house price index
- ENTREPRENEURS’ RELIEF COULD BE SCRAPPED
- £3.8bn BOOST FOR UK STOCK MARKET
- BLOG: Top stories of the year: auto retail in 2019
Tony Bramall boosts Lookers stake to over 19%
Tony Bramall’s continues to build his stake in Lookers with the purchase of £1.2m of shares. Mr Bramall’s company, Guernsey Investments, has bought 2.1m shares at 55.0p. Mr Bramall now holds 75.7m shares, giving him a 19.44% stake in Lookers.
Mr Bramall earlier made a series of investments in Lookers during August 2019, growing his stake to 18.89%. The latest share purchase is Mr Bramall’s first since Lookers CEO Andy Bruce and COO Nigel McMinn’s shock departure on 1 November. As reported below, Lookers stock is down 47.4% in 2019.
Motorpoint launches SAYE scheme
Motorpoint has launched a Save As You Earn scheme for all its permanent employees. Shares were open for subscribers at a 10% discount on the 29 November price. The contract start date is 1 February 2020 and they are exercisable between 1 February 2023 and 31 July 2023. A total of 193 employees out of 745 joined the scheme.
CEO Mark Carpenter and CFO James Gilmour elected to join the scheme. Mr Carpenter now holds 10.28% of Motorpoint shares; Mr Gilmour holds 0.57%.
Arnold Clark takes on Toys ‘R’ Us site
Arnold Clark plans to convert a former Toys ‘R’ Us site in Warrington into a car showroom and workshop. The 2.42-hectare site will reportedly be part of a nationwide rebranding and refurbishment scheme by Arnold Clark.
Barretts of Canterbury leaves city centre after 117 years
Barretts Jaguar Land Rover has left the Canterbury city centre site it has occupied since being founded in 1902. It is moving to a new £4.5m Dual Arch site on Broad Oak Road. Its old St Peter’s Street site will be redeveloped into 120 student flats and five retail units.
WORLD NEWS
Pendragon completes JLR California sales
Pendragon has completed the sale of its Jaguar Land Rover retailer in Newport Beach, California. US Auto Trust LLC has paid £31m. Another California retailer in Mission Viejo has been sold to Lithia Motors Inc for £29m. Work on disposing the remaining US retailers continues, said Pendragon.
BMW investigated by SEC
The US Securities and Exchange Commission is investigating BMW over illegal manipulation of sales figures through a practice called ‘sales punching’. This is where vehicles in retailers’ inventory are claimed to have been sold, in order to boost sales figures.
STOCKWATCH
Closing prices on 27 December 2019 and overall performance during 2019
Motorpoint biggest riser with 37.1% increase in 2019; Pendragon biggest faller with 54.1% fall in 2019
Auto Trader Group 607.6p (+166.2p or 31.6% in 2019)
Cambria 69.0p (+12.1p or 19.2% in 2019)
Caffyns 400.0p (+25.0p or 6.4% in 2019)
Inchcape 718.5p (+166.0p or 26.1% in 2019)
Lookers 57.0p (–35.5p or –47.4% in 2019)
Marshall Motor Holdings 150.5p (–5.5p or –3.5% in 2019)
Motorpoint 303.0p (+95.0p or 37.1% in 2019)
Pendragon 12.8p (–9.5p or –54.1% in 2019)
Vertu 35.5p (n/c in 2019)
LAUNCH DIARY
Audi RS6, 600hp estate, prices from £92,700 with limited-run Launch Edition costing £101,700, ordering open now
Audi RS7 Sportback, 600hp five-door coupe, prices from £97,050 with limited-run Launch Edition costing £106,000, ordering open now
COMING UP
Monday, Nationwide house price index
Tuesday, US consumer confidence
MONEY MATTERS
Entrepreneurs’ relief could be scrapped
The Treasury is considering scrapping Entrepreneurs’ relief, reports The Sunday Times. The tax break allows founders and investors to pay a reduced 10% capital gains tax rate if they sell out, rather than 20%. The Institute for Fiscal Studies claims it costs £2.4bn a year.
£3.8bn boost for UK stock market
Investors are returning to UK stocks with £3.8bn invested in UK assets since Boris Johnson’s victory in the December General Election. The Sunday Telegraph says investors are returning as business uncertainty eases.
BLOG: Top stories of the year: auto retail in 2019
Tags:
Arnold Clark, Audi, Barretts of Canterbury, BMW, IFS, Lookers, Motorpoint, Pendragon, Tony Bramall 
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