Car dealer software giant starts trading on US market

Pinewood Technologies has begun trading on the OTCQX market in the US, in a bid to secure more US investors.

The car dealer software giant will continue to trade on the main market of the London Stock Exchange, where it had traded as part of Pendragon.

Pinewood (the company’s dealer management software (DMS) business) was rebranded following its separation from the UK motor business, which was sold to Lithia Motors for £397m. Post-sale, Pendragon rebranded as Pinewood Technologies Group and continues to be listed on the London Stock Exchange with Bill Berman staying on at the helm as CEO.

Last week, Birmingham-based Pinewood acquired the remaining share capital of Seez, a Dubai-based automotive AI company in a £33.3m deal.

Pinewood purchased 90.9% of Seez to roll out AI products to its global dealers, after it made a £3m minority investment in September 2024.

The board of Lithia Motors, which now owns Pendragon, has said it will deploy Seez’s chatbot product across all of Lithia’s stores globally.

Bill Berman, CEO of Pinewood Technologies Group said: “We are thrilled to begin trading on the OTCQX Market, which offers investors in the U.S. the opportunity to purchase shares in Pinewood Automotive Intelligence™ more easily. As the first fully integrated secure cloud-based ecosystem operating in 21 countries and partnering with more than 50 manufacturers, Pinewood Automotive Intelligence™ is uniquely positioned to offer real-time solutions to real world retail problems. The Pinewood Automotive Intelligence™ platform gives dealers and OEMs alike the ability to drive growth and unlock greater profits while operating securely in our fully connected environment.

“With the global market for Dealer Management Software solutions fragmented, the Pinewood Automotive Intelligence™ platform capitalizes on the universal need for clarity between customer, dealer and manufacturer. Strengthened by our partnership with Lithia, one of the largest automotive dealer groups in the U.S., we believe Pinewood Automotive Intelligence™ is a compelling investment proposition that will continue to deliver significant value for shareholders.”