Evans Halshaw is closing one of its dealerships in Lincoln and blamed Brexit for creating “challenging market conditions.”
The Car Store site on Newark Road will close on October 18 but work is already underway to move stock to other nearby dealerships.
Owner Pendragon PLC is closing almost two-thirds of its 34 sites and 300 staff are going to be out of the job.
For the last six months of the year, the group posted a pre-tax loss of £322 million against a profit of £28.4 million at the same point last year.
In a statement released in September, the group said: “The heightened political and Brexit uncertainty, as to both outcome and timing, is adversely affecting customer confidence.
“We are not anticipating any improvement in this for the rest of our financial year and are closely monitoring market conditions and customer behaviour particularly during the important trading month of September.”
The review added that the majority of stores earmarked for closure are historic franchise locations and said that they no longer fit their long-term strategy.