'Disposals' part of car dealership growth plans

ONE of Nottinghamshire’s largest firms is planning to sell “under-performing” sites and expand further across the UK after a £377 million US takeover.

- By JOSHUA HARTLEY

Pendragon, which had been one of the UK's largest car dealership groups, was bought by New York-based firm Lithia Motors in February 2024.

It was combined with Lithia’s existing UK division, with the combined entity headquartered at Pendragon’s old HQ in Annesley despite its American ownership.

Lithia UK Holding Limited, which has cut hundreds of jobs since acquiring Pendragon’s huge motor division, revealed in newly published financial filings that it had raised profits from £4 million in 2023 to just over £20 million in 2024.