Inchcape Sell Four Sites to Group 1

Inchcape continues its “right sizing” plan for its dealer network with the sale of four Volkswagen franchised dealerships in Essex.  All four sites have been sold to US-owned Group 1 Automotive for an undisclosed sum.

The four sites are in Chelmsford, Colchester, Romford and Southend and will be operated by Group 1 under the Beadles brand. Beadles was bought by Group 1 in 2017.

Inchcape revealed their plan to reduce the number of franchises they hold by nearly 20% earlier this month. The group also confirmed the sale of two Audi franchises (Maidstone and East Kent) to Motorline and one (Crawley) to Harwoods.

Its also understood Inchcape is also looking to dispose of three BMW and three Mini franchises, plus at least two other operations.

The sales take Inchcape from 103 to 96 franchise points while Group 1 moves from 61 to 65 franchise points.