Peter Warren spends $45m on new dealerships

ASX-listed car dealer Peter Warren Automotive is positioning itself to capitalise on Australia’s best-selling car, the Toyota HiLux, driving its growth plans.

Peter Warren has gained approval from Toyota to acquire a majority stake in two dealerships in NSW as part of a $45m deal, which also includes taking over a Volkswagen outlet.

Toyota – Australia’s most popular automotive brand – has a complex approval process, requiring dealer principals to have a minority…

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