Peter Cooper Motor Group has expanded into Dorset with the acquisition of the £14 million turnover Think Cars SsangYong and used car dealership.
Peter Cooper, which operates Volkswagen UK franchises in Chichester, Portsmouth, Hedge End and Southampton, has added a new franchise and a successful used car business with acquisition of the operation, which is based in Bransgore, near Christchurch.
Darren Cooper, managing director of the Peter Cooper Motor Group, considers this acquisition to be vital in the company’s longer-term strategy.
He said: “This is an extremely important acquisition for the Peter Cooper Motor Group and will not only expand our influence within the regional automotive industry but also our geographical reach to the outskirts of Dorset.
“Think Cars is a very strong and stable business and like our businesses, is much loved by its customers.
“Both businesses share the same family ethos and ambition which is focused on excellent customer care.
“SsangYong as an SUV car manufacturer is becoming stronger in the marketplace and we are delighted to have this brand on board as part of the group.
“We aim to continue the great work that Think Cars does for its local community and also to bring our aftersales skills with Volkswagen to their doorsteps as well.”
Peter Cooper’s acquisition of Think Cars is one of just a handful of deals completed since mid-March’s COVID-19 prompted UK lockdown.
Yesterday TMS Motor Group managing director, Len Hallows, suggested to AM that motor industry colleagues could not decide whethre he was “shrewd or silly” to complete his group’s acquisition of the Sandicliffe Motors Group Kia dealership in Leicester this week.
The other deals completed during the pandemic include Brayleys Cars acquisition of Glyn Hopkin’s Romford Honda dealership last month and Richmond Motor Group’s acquisition of Newmans Southampton as part of its plans to grow its business with the opening of four more dealerships in the next 18 months..
The Peter Cooper Motor Group employs 245 staff and reported a turnover of £97.4m in its annual financial results to December 31, 2018, alongside a profit before tax of £544,840.
As well as its established Volkswagen franchises, the group operates a body repair centre in Bognor Regis, the Prestige Cars used car dealership in Hedge End and Peter Cooper Leasing.
According to a statement announcing the acquisition today (July 10), Think Cars’ successful prestige cars business accounts for over 80% of its 750 annual sales, with products from Aston Martin, Porsche, Range Rover, Caterham and McLaren among the products often featured on its forecourt.
All 12 Think Cars staff, including managing director Kristian Robinson, will be retained by Peter Cooper Motor Group.
Robinson will move into a wider group buying role as well as continuing to be hands on at Think Cars to maintain continuity.
Cooper said: “Kristian has developed a wealth of experience in used car acquisition and also runs a successful service operation for all makes of vehicle.
“He will continue to support Think Cars and our other used car sites across the Group with our existing teams.”
Commenting on the acquisition of Think Cars, Robinson said: “This acquisition is a great fit for Think Cars and our staff.
“I’ve long admired The Peter Cooper Motor Group for its business performance, customer service ethos and strategic position in the market.
“As part of our successful business we have carved out a niche for bespoke cars and I know our customers will welcome this acquisition and I look forward to seeing it grow as part of the Peter Cooper Motor Group.”
Re-Imagining Electrical System Design
Electrical system complexity is reaching a tipping point across industries, from modern passenger vehicles to sophisticated industrial machines that can now contain nearly 5,000 wiring harnesses. The electrical systems of these machines contain multiple networks, thousands of sensors and actuators, miles of wiring and tens of thousands of discrete components. Designing these complex systems is a significant challenge itself, but there also needs to be understanding of how system requirements move into manufacturing and maintenance processes.
Producing the next generation of products will require updated methodologies that support complete traceability, employ automation and blur the boundaries between electrical domains. This paper examines how a model-based approach, implemented with an advanced portfolio of engineering software, can provide these capabilities to empower the creation of tomorrow’s products.
To read more, click here.
A trip to Africa inspired this wardrobe-washing bicycle attachment
Transcript: Wash your clothes and get a workout. This bicycle attachment washes your clothes while you ride. While in Africa washing his clothes, creator Rich Hewitt was inspired to simplify the process. He came up with SpinCycle, an attachable device for your bicycle. It uses the back wheel to spin the barrel and begin the washing. When you’re done, you can then remove the bike from the washing basin and ride to your destination.
Although SpinCycle isn’t available for purchase as far as we could find, but if you’re just looking for a solid bicycle to get around on, check out the Schwinn Mountain Bike. It’s a No. 1 bestseller on Amazon and can get you started in the right direction if you’re looking to expand your cycling horizons.
Autoblog may receive a share from purchases made via links on this page. Pricing and availability is subject to change.
What did you do during lockdown? Right, you were playing ‘Grand Theft Auto’
Now we know what all of you have been doing during the pandemic, and it wasn’t necessarily all working from home:
Sony Corp. said Tuesday that its April-June profit jumped 53% as its video game and other online businesses thrived with people staying home due to the coronavirus lockdown.
And Take-Two Interactive Software said it sold over 15 million units of “Grand Theft Auto V” in the first two quarters of the year, as more people lapped up the action-adventure videogame to keep themselves entertained in lockdown.
Sony reported a 233 billion yen ($2.2 billion) profit for the most recent quarter, up from 152 billion yen the year before.
On the flip side, Sony warned that its movies division would likely suffer for two or three years due to filming delays and closed theaters. Consumer demand for electronics products has also plunged, including sales of digital cameras, TVs and other gadgets, according to Sony.
Meanwhile, Sony unveiled its prototype of an electric car, highlighting the reach of consumer electronics into new sectors in the digital age.
The company is projecting a 510 billion yen ($4.8 billion) profit for the fiscal year that ends in March 2021, down 12% from the previous fiscal year.
Sony said music streaming was doing well, as people stayed home due to the pandemic, but other parts of its music business have suffered. Online video content also is doing well, it said.
Video game operations got a big lift from people signing on to network services. There are now 45 million PlayStation Plus subscribers, a paying online membership for games, and Sony is planning a major upgrade with the PlayStation 5 to go on sale later this year.
Take-Two shares, which are up more than 37% this year, hit a record high of $180.61, a day after it reported a blockbuster quarter.
“Grand Theft Auto V”, the seventh installment of the franchise, follows the story of three protagonists – Trevor, Franklin and Michael – as they find their way through a fictitious California-like state to accomplish missions involving car-chases and shootouts.
Take-Two sold over 25 million units of “Grand Theft Auto V” globally in the last 12 months, more than double that of a year earlier.
The company also joined rival videogame publisher Electronic Arts Inc in raising its annual sales forecast as demand for their popular videogames soars.
U.S. spending on video games in June surged 26% to $1.2 billion, the highest for the month in over a decade, according to research firm NPD, as people turned to games for relaxation during lockdowns and also purchased more in-game content.
Material from Reuters was used in this report.
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