Inchcape sales increased by 26% on a constant currency basis in the first quarter of this year and were in line with the company’s financial plans.

A large part of the increase, 23% in total, was attributed to Inchcape’s acquisition of European Motor Holdings and other retail centre openings last year.

Like for like sales for the first quarter were up 2.9% on a constant currency basis and in sterling terms are in line with the prior year.

In his statement to shareholders at Inchcape’s AGM this morning, Peter Johnson, chairman of Inchcape, said: "The trading performance of the group for the first quarter is in line with our plans and accordingly our expectations for the full year remain unchanged."