Jack Walsworth Subaru reporter, web producer Jack Walsworth is Subaru reporter, web producer for Automotive News. [email protected] 313-446-6029 See All Staff Page Recent Stories Ineos Automotive's U.S. dealership network is private only Ineos Automotive has 19 dealerships in the U.S., but none of the fledging automaker's stores are owned by a publicly traded auto retailer. AutoNation won't make formal Pendragon offer AutoNation has joined Penske Automotive Group in dropping a pursuit of Pendragon, which Lithia Motors also is pursuing. Lithia Motors looks closer to Pendragon acquisition Lithia Motors' increased offer to acquire the dealership and fleet businesses of Pendragon could bring more long-term value to shareholders of theU.K. auto retailer vs. a rival auto retailer's preliminary proposal, one analyst said. Lithia Motors raises bid for Pendragon car dealerships Two weeks after Lithia Motors revealed its plans for Pendragon in the U.K., the auto retailer has updated its offer to pay significantly more cash for the business. AutoNation joins Pendragon bidding war Pendragon, which plans to sell its motor and leasing businesses to Lithia Motors, said it received an unsolicited proposal from AutoNation for about $544.2 million. Penske Automotive Group, together with Hedin Mobility Group, has also made an offer for Europe's 7th largest dealer group. Penske-Hedin bid for Pendragon rejected after Lithia acquisition announcement Days after Lithia Motors said it had agreed to a deal to acquire Pendragon's dealership and fleet businesses, Pendragon's board of directors rejected a joint offer from a Penske Automotive Group subsidiary and Hedin Mobility Group. Lithia to buy Pendragon's dealership and fleet business Lithia Motors plans to not only make a significant dealership acquisition in the U.K. Its pending deal also includes a fleet management platform and an ownership stake in Pinewood Technologies, which plans to bring a dealership management system to North America. Jardine deal opens U.K. opportunity for Lithia Lithia Motors' latest acquisition of Jardine Motors Group gives it a sizable presence the United Kingdom and gives it exposure to the agency model. Lithia on cusp of buying Jardine Motors, report says Lithia is looking for the right partner in the UK and hopes to buy an auto group in the next few quarters. Lithia Motors in talks to buy Jardine Motors in UK, report says Lithia Motors, which Sky News in August named as the unidentified bidder in a failed deal to buy Pendragon, is in talks to buy a different dealership group, the broadcaster reported. Volvo Car USA's new head of design draws inspiration from aerospace, furniture Nick Gronenthal arrives at a crucial time as Volvo heads toward becoming an all-electric brand by early 2030. McLaren's U.S. dealers seeing high profitability, freshened facilities For McLaren Automotive's small group of U.S. dealers, it's a time of high profitability and new or freshened facilities, says Nicolas Brown, McLaren's president of the Americas. Why U.S. retail giant Lithia aims to expand into Europe A report named Lithia as the unidentified bidder in a failed deal to buy Pendragon, one of the UK's largest auto retailers. Lithia Motors was bidder behind terminated offer for Pendragon UK dealerships, report says According to Sky News, Lithia Motors was the "large international corporate" that Pendragon cited in an August regulatory filing revealing buyout discussions between the parties had been terminated. Pendragon sells last U.S. dealership The move by the UK's largest publicly traded auto retailer caps a multiyear divestiture effort and marks a new beginning for the buyer. Load More
Jack Walsworth Subaru reporter, web producer Jack Walsworth is Subaru reporter, web producer for Automotive News. [email protected] 313-446-6029 See All Staff Page