Car dealership group Peter Vardy is aiming to double its annual used car volumes on the back of expansion plans, while parting company with Vauxhall.
It cited growth in demand for used cars.
The business has already restructured to boost its presence as an e-commerce operator, and invested in its SilverBullet information technology platform.
It said it had plans to invest in future sites nationally. In July 2021, its current Vauxhall sites will be converted into used car supermarkets.
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The company plans to rebrand its used car operations as “Carz”.
Chief executive Peter Vardy said: “We have been working on this growth strategy for some time. However, the events of this year have meant we have fast tracked these plans.
“There has been a significantly increased level of demand for used vehicles which along with challenges around the supply of new vehicles, and with Brexit potentially making this even harder, it makes sense to move our plans forward.
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“Our CarStores in Glasgow and Dundee have been extremely successful since launch and we will be turning our current Vauxhall sites into used car supermarkets as well as going through a full re-brand which we think will be a really exciting step.”
In a joint statement, the company and Vauxhall said: “Vauxhall Motors and Peter Vardy Ltd have been in discussion recently and have now agreed a mutual and managed exit from each other which will take effect in mid-2021.
“Peter Vardy has been a long-standing investor and valued partner of Vauxhall Motors, but the industry is changing and evolving quickly resulting in the fact that the respective future strategies of the two companies lie in different directions.
“Both companies are working closely together to ensure that this decision is handled professionally for both parties to minimise any impact for Vauxhall customers. The positive business relationship that has always existed between Vauxhall Motors and Peter Vardy Ltd will be essential over the next few months to ensure that happens.”
Mr Vardy said: “Whilst we will no longer represent Vauxhall as a manufacturer in Scotland by the end of June 2021, we have enjoyed a great relationship with it across the years and it has been an integral part of our success and growth since we first launched as a single Vauxhall site in 2006 in Perth.”
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