Vertu Motors has confirmed that it is in discussion with a number of parties over the acquisition of “a number of BMW dealerships” following speculation that Inchape is set to sell a number of sites.
Inchcape has continued its recent string of UK dealership disposals with the sale of its Oldham Volkswagen car franchise to Swansway Garages.
A car thief has been jailed for 20 months for his part in a raid on an Inchcape car dealership in which £21,000 of parts were stripped from a rare Volkswagen Golf GTI Clubsport hot hatch.
Arden is poised to acquire Inchcape’s Cooper BMW and Mini car dealership operation in Tunbridge Wells, with the deal expected to be finalised by the end of this month.
Inchcape is driving forward plans for a restructure to be completed by Q1 next year after reporting a 36% decline in overall revenues and pre-tax losses of £188 million in the first half of 2020.
Inchcape, Jemca, Hills of Woodford and Steven Eagell will all host the Yaris GR as the Toyota performance hatchback embarks on a UK tour ahead of its official October launch.
Inchcape has appointed former Fujitsu director Duncan Tait as its new Group CEO after the departure of Stefan Bomhard prompted “strong interest and a group of high-quality candidates”.
Inchcape reported a 1.3% increase in turnover and a 256% increase in its profit before tax in its full-year financial results for 2019.
Inchcape chief executive Stefan Bomhard has resigned his post with the car retail and import business to take up a position as the chief executive of Imperial Brands.
Inchcape has appointed BP’s chief marketing officer, global retail and senior vice president, Alexandra Jenson, as a non-executive director.
Citygate Automotive has confirmed its acquisition of Inchcape Retail’s Volkswagen dealerships in West London and Twickenham – six weeks after AM reported on the impending deal.
Inchcape UK has officially opened its new Jaguar Land Rover (JLR) dealership in Derby 12 months after it gained planning approval for the site of the city’s former cattle market.
Inchcape looks poised to sell two more Volkswagen car dealerships, to Citygate, as the German car brand’s UK franchises continue to change hands in a series of recent disposals and acquisitions.
Inchcape looks set to continue its recent round of business disposals after agreeing to sell its Inchcape Fleet Solutions (IFS) UK vehicle fleet management and funding division to Toyota for £100m.
Inchcape has announced that its will leave the Chinese car retail market with the sale of its Lexus, Porsche and Mecedes-Benz dealerships in the country for over £54 million.
Inchcape has generated £76m with the disposal of six Volkswagen, BMW, Mini and Jaguar Land Rover (JLR) retail sites in Australia.
Inchcape has appointed former LeasePlan chief financial officer Gijsbert de Zoeten as its own CFO following Richard Howes’ decision to leave the AM100 car retail group.
Jardine Motors Group has officially opened the doors of its new £9 million Audi dealership as part of a new major gateway project in Bolton.
Inchcape has said that it is targeting “revenue and cost optimisation” in the UK car retail market after its disposal of seven Volkswagen and Audi dealerships this week.
Motorline has trebled its Audi representation in Kent with the acquisition of a further two dealerships sites from Inchcape Retail.
