By James Callery
Dealer group Vertu Motors, the biggest Hyundai partner in Scotland, has claimed to have bought the trade and certain assets of two Hyundai dealerships in Edinburgh, adding to its 99 existing sales outlets.
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By GlobalDataThe dealerships were reportedly purchased in two separate transactions from Phoenix Car Company and Archers of Edinburgh, which Vertu claims makes it Hyundai’s largest UK dealership partner.
Last year Vertu announced it was the UK’s largest Honda network having acquired sites in Newcastle, Sunderland and Durham as the company benefited from its 2010 £25 million debt and acquisition facility from Barclays Corporate.
Paul Williams, Chairman of Vertu Motors, has previously spoken out about bad industry practice, including the rise in UK dealers who classify self-registered vehicles as private because they are "inflating registration data compared to sales levels."
Independent motor auctioneer SMA Vehicle Remarketing has also claimed the second-hand car market in Scotland is on the rise, following the company’s recent high business volumes.
Retail and aftersales service group Lookers recently acquired Lomond Motors, comprising four Audi dealerships in Glasgow, Edinburgh, Stirling and Ayr and distributing VW Group trade parts in Glasgow and Edinburgh. Lookers purchased Lomond from its owner Hugh McMahon for £15m, and operates as Taggarts Motor Group in Glasgow and Motherwell, as well as representing the Hyundai, Land Rover, Jaguar, Volvo, Nissan and Peugeot brands.
