Why did Peter Vardy sell up? Lotus buyers left in lurch and Arnold Clark’s Christmas shop

In his final Substack of the year, our editor in chief rounds up the motor trade news you cannot afford to miss

While Christmas parties may have fogged your brains and internet shopping takes up your browser tabs, I’ve managed to pull myself away from the festivities to give you the motor trade news you really cannot miss.

In my last Substack of the year (back January 10), there’s still plenty going on as car dealer groups sell up and others grow ever bigger.

Peter Vardy announced yesterday he was selling three sites to Parks – but why? Elsewhere Arnold Clark has snapped up another family group and Lotus has cheesed off buyers by pulling some finance offers.

Also featured in this week’s briefing:

• FCA extends again

• Sytner’s Audi site closure

• Tavares speaks out

• Corvette’s right hand drive plan

• Biggest depreciating used cars

• Swanson insolvency

• New boss for Mini

I’ll be back in the new year when the motor trade wakes up from its mince pie slumbers, so for now thank you for your support this year, have a very Merry Christmas and a happy New Year.

Ok, let’s get into the headlines and my take on the week’s news.

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What’s happening?

Peter Vardy – one of the most respected car dealers in the country – has agreed to sell three of his dealerships to Parks.

The news broke yesterday that Vardy had decided to sell three sites, representing five brands, and keep hold of only the Porsche businesses. But why?