Inchcape is expected to buy more UK dealerships now it has its low borrowings and £42.1 coming from the sale of its 49% stake back to Toyota GB. The group announced pre-tax first-half profits of £30m (down from £40.9m) and its UK retailing division's operating profit rose 40% to £5.6m.

Peter Johnson, chief executive, said: “We are considering our options in the UK but also want to expand in the Far East and Australia.”