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.
Inchcape Retail chief executive James Brearley has denied suggestions that the AM100 franchised car retail group plans to close 20% of its UK dealerships.
Inchcape’s chief financial officer Richard Howes has stepped down from his position with the AM100 car retail group to pursue another opportunity outside the sector.
Harwoods Group has confirmed that construction of a new Aston Martin dealership will start on the former Ford Transit factory in Southampton after it acquired part of the site from Inchcape.
Inchcape’s growing profitability from global vehicle distribution were offset by a challenging retail sector during 2018 – with revenues up 3.6% but underlying profit before tax down by 6.5%.
Inchcape Retail has announced that ten of its business managers have successfully received The IMI Accreditation for Finance and Insurance standards.
Inchcape’s Porsche Centre Bournemouth was the only main dealer to exhibit at the annual Beaulieu Supercar Weekend (August 4-5).
Volkswagen UK has recognised the contribution of its franchisees in the transformation of its Van Centres to create a network of ‘state-of-the-art’ commercial vehicle facilities.
Inchcape Technician Charlie Mason was named Mercedes-Benz Passenger Car Technician Apprentice of the Year as the Gereman premium brand recognised its top apprentices at an annual awards ceremony.
Inchcape UK has completed the move to “the newest Mercedes Benz centre in the UK” following the completion of a multi-million pound dealership development in Coventry.
Inchcape Retail UK has dropped its Hunters and HA Fox brands in a programme to bring all its 107 franchised dealerships under the same familiar brand.
Inchcape has reported that the global reach of its automotive retail and distribution businesses helped to offset the UK market’s “slower growth” in 2017.
Inchcape is preparing to redevelop Derby’s former cattle market site as a Jaguar Land Rover dealership after acquiring the 11.5-acre site for an undisclosed sum.
Inchcape has won the 'service and parts' award for the second consecutive year, alongside Fleet Retailer at the Mercedes-Benz Awards.
Automotive Management Live: Where franchised and independent dealers will find everything they need to know about operating a modern showroom and service and repair facility fit for the digital age.
When: November 7 2019
Where: Birmingham NEC
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