Jack Walsworth

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 has joined Penske Automotive Group in dropping a pursuit of Pendragon, which Lithia Motors also is pursuing.

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.

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.

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.

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 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.

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 is looking for the right partner in the UK and hopes to buy an auto group in the next few quarters.

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.

Nick Gronenthal arrives at a crucial time as Volvo heads toward becoming an all-electric brand by early 2030.

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.

A report named Lithia as the unidentified bidder in a failed deal to buy Pendragon, one of the UK's largest auto retailers.

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.

The move by the UK's largest publicly traded auto retailer caps a multiyear divestiture effort and marks a new beginning for the buyer.