Pendragon warns of annual loss as it slashes prices of used cars

Share price of Britain’s biggest car dealer plunges almost 23% after announcement

Pendragon, Britain’s biggest car dealer, said it would remain in the red this year because of a tough market that has forced it to slash prices of used cars.

The company, which trades under the Evans Halshaw, Stratstone and Car Store brands and sells all the main marques, predicted a small pre-tax loss in 2019, excluding proceeds from US disposals.

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