Pinewood has entered right into a 5 12 months contract with International Auto Holdings to implement the Pinewood Automotive Intelligence™ platform into its 155 dealerships throughout the UK, North America and Scandinavia.
This marks the biggest non-associated main dealership group to undertake the Pinewood Automotive Intelligence™ platform. Roll-out and revenues are anticipated to start within the UK by 2026.
Roy Cui, Govt Vice President of International Auto Holdings, stated: “We’re happy to be partnering with Pinewood and imagine this collaboration aligns completely with our strategic objective of turning into the main consumer-facing international automotive firm.
“This partnership will enable us to drive further efficiencies and optimize our processes for the benefit of all of our stakeholders.”
Invoice Berman, CEO of Pinewood Applied sciences Group, stated: “We’ve now achieved our goal to enroll two of the highest 20 auto retail teams within the UK and Eire forward of schedule, whereas laying the groundwork to develop our footprint throughout our core markets.
“This contract follows a extremely profitable first interval for Pinewood as a standalone enterprise, and that is mirrored in our FY24 efficiency being delivered forward of consensus forecasts.
“This illustrates the dedication and hard work of our employees who ensure our customers around the world receive a best-in-class service. We are optimistic about the year ahead and expect to continue to make further strategic and operational progress.”
The Firm expects that underlying revenue earlier than tax for the 11 month monetary interval ending 31 December 2024 will likely be roughly £8.3m, forward of present analyst consensus forecasts.
