Inchcape PLC’s global footprint will mitigate the impact of a £750 million exposure to the Russian automotive sector, analysts have said.
Automotive distribution and car retail PLC Inchcape has reported a 12% rise in turnover and 131% in pre-tax profits in its 2021 annual financial results.
Inchcape has appointed De Beers chief financial officer and former Rolls-Royce Holdings deputy CFO Sarah Kuijlaars as a non-executive director
Inchcape has secured planning permission for a new Dual Arch Concept Jaguar Land Rover (JLR) dealership in Norwich.
Clive Brook Group, Drive Motor Retail, Hendy Group, Inchcape Retail and Jemca Motor Group have all ramped-up their acquisition of private used car stock in 2021.
Inchcape UK has unveiled the new bravoauto for its expanding used car retail division ahead of its expansion to 20 locations in the next three years.
Inchcape chief executive James Brearley will leave his post at the end of this year to “to take up a new challenge”, a statement from the AM100 car retail PLC has revealed.
Inchcape Retail suffered a near tenfold year-on-year decline in profitability as it revealed a £76.4m pre-tax loss in annual financial results for its COVID-19 impacted 2020 trading period.
Inchcape PLC has reported a 30% rise in turnover and a near 15-fold increase in its pre-tax profits as showed strong signs of recovery from the COVID-19 pandemic in the first half of 2021.
Inchcape UK will reassert its commitment to growth with the creation of an all-new standalone used car sales division and a series of large-scale dealership development projects.
Inchcape UK chief executive James Brearley has revealed the AM100 PLC’s plan to open up to 20 used car retail locations, each with an adjoining fast-fit aftersales offering, by the end of next year.
Inchcape’s UK car dealership operation showed “relative resilience” in a COVID-impacted ‘Lockdown 3’ as the PLC’s distribution business offset revenue losses from retail, the PLC has reported.
Inchcape has continued its plan to move away from car retail with the £70 million sale of its Toyota and Audi dealerships in St. Petersburg, Russia.
Inchcape’s Lexus Derby dealership has been recognised among 10 of the Japanese premium car brand’s European franchisees to receive a prestigious Kiwami award for “retailer excellence”.
Inchcape has revealed its plan to create a new Destination Porsche Centre premium car dealership in Bournemouth - substantially expanding the brand's presence in the coastal town.
Inchcape has confirmed that its London Stock Exchange listing has been reclassified to remove reference to retail as it disposed of 13 UK dealership locations as part of a renewed focus on distribution in 2020.
Inchcape has reported that its performance during November’s ‘Lockdown 2’ COVID-19 restrictions was “better than expected” – leading to an upgraded pre-tax profit forecast.
Vertu Motors has completed its long-awaited acquisition of 12 BMW, Mini and BMW Motorrad franchised motor retail outlets across five locations from Inchcape’s Cooper BMW division.
Inchcape UK CEO James Brealey has asserted that his retail group remains “committed” to its BMW and Mini franchises after confirming it is in the latter stages of disposing of sites in the North East and Croydon.
Inchcape’s car retail revenues declined 17% during Q3 despite a ‘stronger than expected’ COVID-19 recovery from its operations in the UK and Europe.
