Pendragon has sold its Jaguar Land Rover dealership in Mission Viejo, California for £28.2m.
The deal, which was flagged up in May, is in line with the group’s strategy of selling off its dealerships in the US.
Pendragon said work is ongoing on the sale of other dealerships in the US as part of the strategy overhaul announced by ex-CEO Trevor Finn in October 2017.
The overhaul committed management to reshaping the business, making specific cuts in premium brand outlets, expanding its used car and aftersales business, selling off its US division for £100m and expanding the Pinewood software and DMS business.
Earlier this month Pendragon issued a profit warning, saying that the first half of 2019 was expected to be significantly loss making. Its shares fell 25% to a six-year low.
The profits fall has chiefly come from the Car Store network, which is expected to incur losses of -£25m in 2019, up from an -£11.9m deficit in 2018.
The new CEO Mark Herbert, appointed in April, left the job in after just three months in al alleged row over strategy and the group is now looking for a new CEO to fill the slot.