Automotive Holdings Group has suffered a loss of $232.6 million for the 2019 financial year, following major asset write-downs to its automotive and refrigerated logistics businesses during the period.
Sales of new vehicles in Western Australia bucked the national trend and rose by 5 per cent in July, primarily due to the sports utility vehicle (SUV) market segment, marking the first overall increase in monthly sales since May last year.
A rebound in the local retail sector may be on the horizon, after Western Australia recorded the second largest rise in retail spending among states and territories, according the latest Australian Bureau of Statistics data.
The competition watchdog has accepted AP Eagers' proposed takeover of rival car dealer Automotive Holdings Group, on the condition AP Eagers sells its dealerships in Newcastle and the Hunter Valley region.
AP Eagers has offered to sell dealerships in Newcastle and the Hunter Valley region, as it aims to assuage the Australian Competition and Consumer Commission’s issues with its proposed acquisition of rival Automotive Holdings Group.
Fresh supermarket proposals are emerging across a range of near-city suburbs, including Highgate, West Perth, Nedlands, Inglewood and Como, as retail groups respond to community demand for modern shopping facilities.
The Australian Competition and Consumer Commission says it has concerns about AP Eagers’ $2.3 billion takeover of Automotive Holdings Group, due to a potential impact on competition in new car retailing in NSW.
The ACCC is examining whether a proposed takeover of Ruralco Holdings by a Canadian fertiliser giant could reduce wholesale competition and lead to discrimination against some independent retail stores.