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.
The July Issue of AM magazine is here, with insights into Inchcape UK's downsizing, the "unprecedented" used car market, the impact of FCA revisions on dealers' point of sale finance, and more.
Inchcape has revealed that its year-to-date financial performance has “exceeded expectations” in a brief trading update issued today (June 18).
Lloyd Motor Group has bought Inchcape's Jaguar Land Rover business in York, expanding its geographic footprint further into Yorkshire.
Geely’s London Electric Vehicle Company (LEVC) has appointed former Inchcape BMW/Mini division director and BMW Group sales and marketing director Richard Hudson as its new commercial director.
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’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 UK chief executive James Brearley described the support delivered by automotive sector charity Ben as “phenomenal” as the AM100 car retail group made a £10,000 donation to the cause.
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 has agreed the £29.7m sale of its Jaguar Land Rover (JLR) Arch Concept premium car dealership in Southampton to Hendy Group.
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.
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.
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.
