Inchcape has revealed it is to sell its UK retail division to US-owned Group 1 for £346 million. The sale is expected to complete during Q3 2024 and involves £100m being returned to Inchcape shareholders through a share buyback programme. Sales plans Inchcape revealed it was considering selling off the UK retail arm earlier this […]
Read More →Inchcape PLC has confirmed it has had several approaches to sell its UK retail division. In a Stock Exchange announcement, the global business said: “Inchcape confirms that following approaches from a number of interested parties it is reviewing strategic options for the UK Retail business, which potentially could include a sale. This review is at […]
Read More →Inchcape’s UK and European retail operations saw operating profits jump more than 200% to £82.1 million in 2021. Inchcape also announced a global roll-out for its Bravoauto used car operation, recently launched in the UK. In 2020 Inchcape reported an operating profit of £24.6m on a turnover of £3.02bn for its UK and European retail business. Inchcape […]
Read More →Inchcape UK has announced it is rebranding its UK used car centres as Bravoauto. There are currently five site but plans are to open 20 new standalone sites over the next three years. The first centre opened in Chester last Friday (Nov 19). Inchcapes’s other used car dealerships in Bolton, Burton, Cheltenham, Derby and Shrewsbury […]
Read More →Inchcape has upgraded its pre-tax profit forecast for 2021 to ‘at least £290m’, thanks to a strong quarterly performance. A trading update by Inchcape for the three months to September, shows group revenue went up by 10% to £1.9bn on the same period last year. It was, however, 2% down on pre-pandemic 2019. The update […]
Read More →Inchcape UK has opened its new JLR dealership in Derby on the site of the city’s former cattle market. The new franchised dealership combines the Jaguar dealership, previously located adjacent to the former Derby Cattle Market, with the Land Rover dealership previously at Pride Park. This project is part of a significant investment in Jaguar […]
Read More →Jardine Motors Group has now opened its new £9 million Audi franchise dealership in Bolton. The new site at Grosvenor Street replaces the previous premises on the Mill Hill Industrial Estate. The site is one of the first stages of Bolton Councils public sector partnership programme to regenerate the town centre. The original plan was […]
Read More →Inchcape is understood to be working on a plan to dispose of up to a fifth of its UK franchised dealerships. The decision is part of a strategy to “right size” the group and secure its future. This follows their poor financial results earlier this year. Sources claim at least five of the firm’s Volkswagen […]
Read More →Mercedes-Benz Cars named Inchcape South Midlands as Retailer of the Year at their annual awards this week. Inchcape South Midlands has sites at Oxford, Coventry and Stratford-upon-Avon. Their win was down to the customer focused dedication of everyone in the business from reception desk to valeters and sales staff. “They had an exceptional year”, said Gary […]
Read More →Auto retailer Inchcape has appointed James Brearley as its new CEO. The former Stratstone managing director succeeds Louis Fallenstein, who elected to take early retirement at the end of December 2016. Brearley had previously led Stratstone, Pendragon’s premium operation, from 2008 to 2015. He left to launch a Jaguar Land Rover retail business, but was […]
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