Shocking Auto News: Group 1 Automotive Ditches Jaguar Land Rover UK Dealers – Shares Tumble
Group 1 Automotive said it is divesting its entire UK JLR franchise network. In a statement accompanying its Q3 results, Group 1 explained that “persistent economic headwinds” in the UK have made the market challengingam-online.com. CEO Daryl Kenningham noted that while the U.S. business was “outstanding” in Q3, “the U.K. market remains challenging, with softer industry volumes and continued BEV-related margin pressure”am-online.com. The company’s UK CEO, Mark Raban, told staff the move is aimed at aligning Group 1’s portfolio with its “long-term growth ambitions” – and stressed it is “not a reflection on the brand [JLR] itself”cardealermagazine.co.uk. As Raban wrote in an internal memo obtained by Car Dealer Magazine, Group 1 has “informed our OEM partner, JLR, of our intention to sell or relinquish our JLR franchise operations in the UK,” and will phase the transition over two yearscardealermagazine.co.ukcardealermagazine.co.uk. During this period, each Jaguar and Land Rover dealership will continue to operate normally, giving time for potential new brand partners to step in. Raban also announced that two non-JLR sites will close immediately, as the group “continues to work with other OEM partners to evaluate our portfolio”cardealermagazine.co.uk. Group 1 UK currently runs 10 JLR dealershipsam-online.comcardealermagazine.co.uk.
