Monday, March 09, 2015
UK Stockwatch
End of week share prices
(As at market close, Friday; changes on last week’s prices in
brackets)
Caffyns 530.00p (no change)
Cambria Auto 53.50p (+1.00p)
Inchcape 747.50p (+11.50p)
Lookers 153.75p (+9.75p)
Pendragon 39.00p (-0.50p)
Vertu Motors 57.50p (-1.25p)
DATED: 09.03.15
FEED: ARN
STONEACRE RELAUNCHES NEW SITES
Stoneacre Motor Group has just relaunched the former Randles sites it acquired at the end of 2014. The company bought Peugeot and Suzuki outlets in Etruria, Staffordshire and a Peugeot dealership in Stafford for an undisclosed sum. It has also refurbished its used-car superstore.
The new sites are now integrated into the business, which comprises 29 branches staffed by 1500 employees. The group is Suzuki’s largest retailer in Europe and also one of Fiat’s biggest.
DATED: 09.03.15
FEED: ARN
FIAT ‘WILL NOT RETURN TO MASS-MARKET’
Fiat bosses have signalled that that have no ambitions to return the make to the mass market in the UK. Fiat Chrysler CEO Sergio Marchionne announced at the Geneva Motor Show last week that Fiat will instead concentrate on making small cars and specialist vehicles.
The announcement confirms its reliance for now on the 500 city car and its 500L MPV and SUV offshoots, along with the Panda. While a replacement for the Bravo is scheduled for 2016, the future of the Punto supermini is doubtful.
Even though the Punto was once a top-seller, it is likely to be replaced by another 500 spin-off next year rather than a direct replacement, although Fiat has yet to say what form this might take. However, Fiat did confirm that it plans to sell a small roadster, like Mazda’s MX-5.
Mr Marchionne said at a press conference: “the economics are not there” in terms of an investment return to keep Fiat as a mass-market brand.The brand would not try to regain market share in Europe.
DATED: 09.03.15
FEED: ARN
MARSHALL TO SEEK STOCK EXCHANGE FLOAT
Marshall Motor Group is understood to be looking to join the stock market.
Sources from the City are widely quoted in the weekend press as expecting such a move ‘within weeks’, while investment bank Investec is said to be sounding out investors for such a floatation, possibly by the end of this month. Investec declined to comment, however.
The company, run by chief executive Daksh Gupta, operates 71 dealerships representing 23 vehicle brands. Turnover last year was £1.1bn, which places it ahead of quoted auto retailer Vertu but behind Pendragon and Lookers. Investec has not commented on the move.
Marshall sells 55,000 new and used cars a year and repairs or maintains on a further 450,000 vehicles. In addition to its dealerships it runs five accident repair sites and a filling station.
Parent company the Marshall Group is family owned – it is run by Robert Marshall. It also runs aerospace and defence businesses and owns Cambridge Airport.
Mr Gupta has held his present job for seven years. He has, however, had a taste of running a publicly quoted company in a previous role as chief operating officer of the claims handler Accident Exchange.
DATED: 09.03.15
FEED: ARN
