Shares in UK’s biggest car dealer Pendragon fall by 17%

Brexit uncertainty and air pollution plans hit cars sales as company says decline will continue into 2018

Shares in the UK’s biggest car dealer have plunged by 17% after a surprise profit warning which also raised further fears over consumer spending.

The alert from Pendragon, which trades under the Evans Halshaw and Stratstone fascias, and sold 275,000 new and used cars last year, is the latest in a raft of profit warnings issued in recent weeks by UK companies blaming worsening consumer confidence.

Related: Owning a car will soon be a thing of the past | John Harris

Continue reading…

Read full original article »