Tuesday, August 05, 2008
Inchcape to stick with Jaguar and Land Rover
Global group impressed by new owner Tata’s plans for the prestige marques
Inchcape has reversed its decision to dispose of its Jaguar and Land Rover franchises in the UK having been impressed by new owner Tata’s plans for the brands.
The dealer group runs 10 outlets for each of the marques which Ford sold to Tata for £1.15bn in March.
“Tata is a highly regarded industry player,” said Ken Lee, Inchcape’s group communications director.
Lee said Inchcape would have ended its relationship with Jaguar and Land Rover had a venture capitalist bought them.
“They were in the original group of brands we said we were exiting from,” he said.
But he said Tata had pledged to put investment behind the brands and had confirmed new model plans.
“We’ve had a great 18 months from the brands,” he added.
During the first half of 2008 Inchcape Retail sold five Vauxhall sites for £14.3m and plans to dispose of 12 more non core dealerships – including franchises for Ford, Kia and Renault - as it focuses on its prestige portfolio.
Lee said Inchcape Retail, which is ranked second in the Motor Trader Top 200, now commanded 8 per cent of the premium segment in the UK.
DATED: 05.08.08
FEED: MT
Inchcape has reversed its decision to dispose of its Jaguar and Land Rover franchises in the UK having been impressed by new owner Tata’s plans for the brands.
The dealer group runs 10 outlets for each of the marques which Ford sold to Tata for £1.15bn in March.
“Tata is a highly regarded industry player,” said Ken Lee, Inchcape’s group communications director.
Lee said Inchcape would have ended its relationship with Jaguar and Land Rover had a venture capitalist bought them.
“They were in the original group of brands we said we were exiting from,” he said.
But he said Tata had pledged to put investment behind the brands and had confirmed new model plans.
“We’ve had a great 18 months from the brands,” he added.
During the first half of 2008 Inchcape Retail sold five Vauxhall sites for £14.3m and plans to dispose of 12 more non core dealerships – including franchises for Ford, Kia and Renault - as it focuses on its prestige portfolio.
Lee said Inchcape Retail, which is ranked second in the Motor Trader Top 200, now commanded 8 per cent of the premium segment in the UK.
DATED: 05.08.08
FEED: MT
