Tag Archives: inchcape

Inchcape has flagged up to investors the possibility of having to make payments for historical motor finance commission arrangements for its UK business before it was sold to US dealer group Group 1. In results filed today it referenced the FCA review into historical motor finance commission arrangements announced in January 2024. This investigation is ongoing. In the meantime, there ...

Dealer groups have gained Carbon Literate Status having been trained by the Automotive Carbon Literacy Toolkit. “The toolkit contains materials an organisation requires to educate and accredit its employees in Carbon Literacy, including tailored training content, a trainer guide, detailed resources, and dedicated support from a member of the Carbon Literacy Project team. The toolkit as funded and developed in ...

Group 1 turned in a strong performance in Q3 with year-on-year gross profit up 8.4% to $852.7m (£656m) and turnover up 11% to $5.2bn (£4bn). Group 1 has accelerated its UK growth.  For the quarter UK gross profits rose 68.6% to $1174.5 on turnover up 55.2% to $1.2bn. In July 2024, it bought four Mercedes-Benz UK dealerships, which is expected ...

Inchcape turned in a ‘resilient’ performance in Q3 with revenues up 2% to £2.2bn. The group, now a pureplay distribution business said it had delivered a ‘robust’ performance in Europe. The group won nine distribution contracts in the full year 2024, including five in H2 and said its balance sheet had been strengthened by the disposal of its UK retail ...

Group 1 in the UK took to social channels today to welcome on board its new CEO Mark Raban. Raban confirmed to Motor Trader in August that he had landed the sop job at the UK arm of the US dealer giant. Mark Raban, the former CEO of Lookers, was the winner of the Motor Trader Outstanding Achievement Award in ...

Mark Raban, the former CEO of Lookers, has been appointed as the new CEO of Group 1 in the UK. The appointment was confirmed by Mark Raban with Motor Trader this morning. Raban was the winner of the Motor Trader Outstanding Achievement Award in 2023 for his tenure at Lookers, hauling the company back from big losses to significant profitability. ...

Inchcape has disposed of four former Bravoauto used car outlets to used car group Carsa. The dealerships are in Shrewsbury, Cannock, Halesowen and Bolton. The deal also included the included the subsequent investment sale of Bolton, according to property firm Savills which brokered the deal. Ex-Imperial commercial director John Churcher and sales director Mike Hawkins founded Carsa in 2020. The ...

US dealer giant Group 1 Automotive today announced that it has closed on the acquisition of Inchcape Retail’s 54 dealership locations across the U.K. These dealerships are expected to generate $2.7bn (£2.1bn) in annual revenues, bringing 2024 year-to-date total revenues for Group 1 to $3.8bn. In the UK the deal will catapult Group 1 up the Motor Trader Top 200 ...

Inchcape turned in a “resilient” performance in the first half with pre-tax profits on continuing operations up 10% to £195m on revenues up 8% to £4.7bn. It announced its results as it confirmed the sale of its UK retail arm to Group 1 Automotive for £346m in a deal expected to complete in Q3. Inchcape has focusing on distribution for ...

James Brearley has been appointed managing director of Lookers Motor Group. He moves to Lookers following a year-long stint as chief operating officer with Peter Vardy. Before that he was head of Inchcape’s UK retail business. He was appointed CEO, Inchcape UK in January 2017 with the aim of implementing a five-year plan focused on overhauling the business operating structure, ...