Pendragon accelerated its drive to head out of the US on Friday, selling its Chevrolet car dealership in Puente Hills, California for just over £17 million.
The motor company has lately been accident prone, biffed by wider strife in the sector and confusion over government policy on diesel vehicles.
In May it sold two other California businesses for £60 million. The proceeds from all three deals will be used to pay down debts.
The Puente Hills dealership is being sold to Scott Biehl, a local car seller.
The City is still awaiting the arrival of Pendragon’s half-year results, which have been delayed after multiple profit warnings.
The battered shares today rallied somewhat, up 0.5p to 11.3p.
Pendragon said: “The company continues to progress the disposal of the remainder of its US Motor Group.”
It added: “Completion of the transaction is subject to a number of conditions, including... the purchaser securing funding approval.”
Pendragon owns the Evans Halshaw, Stratstone and Quickco brands.
In June, it startled investors with the sudden departure of Mark Herbert, who had been chief executive for three months.
