Inchcape plc
Encyclopedia
Inchcape plc is a multinational
automotive retail and services company headquartered in London
, United Kingdom
. It has operations in 26 countries across Africa, Asia, Australasia, Europe and South America.
Inchcape is listed on the London Stock Exchange
and is a constituent of the FTSE 250 Index
.
formed the Mackinnon Mackenzie Company (MMC), a general merchanting partnership based in Calcutta. In 1856 Mackinnon formed the Calcutta and Burma Steam Navigation Company to carry post to the region: the Company appointed MMC as their agents, secured contracts to transport British
troops from Ceylon to India
during the Indian Mutiny of 1857 and in 1862 floated on the London Stock Exchange
under the name British India Steam Navigation Company.
joined Mackinnon and Mackenzie in Calcutta and by 1914 was the sole surviving senior partner in MMC. Largely responsible for solving India
’s currency problems and for the adoption of the Gold Standard
, he was given a peerage
by King George V
for his services to industry in 1911. He chose the title “Baron Inchcape of Strathnaver” to commemorate the Inchcape Rock, which lies off Arbroath
, and Strathnaver
in Scotland. He later became a Viscount and finally, in 1929, he was appointed the first Earl of Inchcape
.
.
Inchcape’s growth was largely due to a series of mergers and acquisitions, including the merger with Borneo Company in 1967, which almost doubled Inchcape’s size by adding Hong Kong
, Malaysia, Canada
, Singapore
, Brunei
and Thailand
to the operation. In 1972, Dodwell & Company was acquired, adding extensive shipping, motors and business machine trading in the Far East
.
Mann Egerton and Company, founded in the nineteenth century, with a portfolio that initially included de Dion
, Renault Daimler, and later, British Leyland cars and a range of luxury vehicles, was acquired in 1973.
During the 1980s Inchcape acquired several petrol, textile, electronic and mineral testing and inspection companies and forms a specific testing business stream. This business stream kept on growing due to the acquisition of the Caleb Brett group, SEMKO and various others, such as ETL Testing Laboratories. In 1996 the tesing service division is part of a management buy-out by Charterhouse Development Capital
and renamed Intertek Testing Services .
Pride and Clarke brought the Toyota distribution concession with them in 1982. During the 1990s the greater part of the business came from sale of Toyota cars and by 1998 Toyota had bought a fifty-one per cent stake in Inchcape’s UK distribution company Toyota (GB).
was appointed chairman and Peter Johnson became Chief Executive Officer. The Competition Commission Report and subsequent order in 2000 regarding new UK car prices resulted in a sharp drop in profitability. The economic recovery in the Far East
helped restore profits as did the sale of Inchcape’s forty nine per cent stake in Toyota GB to Toyota in 2000.
In 2007 it acquired European Motor Holdings, a leading Europe
an motor retailer.
, Scion, Chevrolet
, Subaru
, BMW
, Mazda
, Mercedes-Benz
, Volkswagen
, Audi
and Honda
.
Inchcape currently has the following operations worldwide:
Australia
In Australia
, Inchcape has been an importer and distributor for Subaru
since 1973. It has the largest market share for a Subaru
market outside Japan. Subaru Docklands, Inchcape’s flagship site is the largest Subaru dealership in the world. Inchcape also runs AutoNexus, a parts operation.
The Balkans
Inchcape has established a strong presence in the Balkans, distributing and retailing Toyota / Lexus
in Romania
, Bulgaria
and the Republic of Macedonia
. Inchcape operates a vertically integrated retail business in Estonia
, Latvia
and Lithuania
for Ford, Jaguar
, Land Rover
and Mazda
and retails BMW
, Mitsubishi
and Hyundai
in those countries.
Belgium
Inchcape has been the Belgian importer and distributor for Toyota / Lexus
since 1979.
China
In 2006, completed a Toyota showroom in Shaoxing
. In 2008, it completed a Lexus
showroom in Shaoxing
: this will be followed by a third Lexus
showroom in Shanghai
later in 2008.
Greece
In Greece, Inchcape has been an importer and distributor for Toyota since 1987.
Guam
In the United States territory of Guam
, Inchcape owns and operate Atkins-Kroll Motors, the islands' oldest automotive dealership, which they acquired in 1974. Atkins-Kroll, better known as AK to the locals in Guam, is the exclusive Chevrolet
, Toyota, Scion and Lexus dealer in the area.
Hong Kong
In Hong Kong, Inchcape is an exclusive importer and retailer for Toyota / Lexus
, Hino
, Jaguar
, Mazda
and Daihatsu. When combined, these franchises regularly achieve around 40 per cent of market share. Crown Motors have held the Toyota franchise since 1966.
Russia
In 2006, Inchcape formed a joint venture with the Independence Group of Companies, one of Moscow’s leading independent car Retailers and went on to secure a majority stake in a business in St Petersburg. In 2007, Inchcape continued expansion in St Petersburg with acquiring majority stakes in businesses retailing Audi
and Peugeot
. In 2008, Inchcape bought a 75.1pc stake in Russia's Musa Motors Group.
Singapore
Inchcape is the exclusive importer and retailer for Toyota / Lexus
and Suzuki
in Singapore
. It has held the Toyota franchise since 1967 and was awarded the Suzuki franchise in 1977.
Multinational corporation
A multi national corporation or enterprise , is a corporation or an enterprise that manages production or delivers services in more than one country. It can also be referred to as an international corporation...
automotive retail and services company headquartered in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
. It has operations in 26 countries across Africa, Asia, Australasia, Europe and South America.
Inchcape is listed on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
and is a constituent of the FTSE 250 Index
FTSE 250 Index
The FTSE 250 Index is a capitalisation-weighted index consisting of the 101st to the 350th largest companies on the London Stock Exchange. Promotions to and demotions from the index take place quarterly in March, June, September and December...
.
1847 to 1874
In 1847, William Mackinnon and Robert MackenzieRobert Mackenzie (trader)
Robert Mackenzie was a trader and co-founder of the Mackinnon Mackenzie Company, now known as Inchcape plc.-Career:Born in Campbeltown in Argyll, Robert Mackenzie went out to Calcutta in India where, in 1836, he set up an oil goods import and export business and also became involved in the...
formed the Mackinnon Mackenzie Company (MMC), a general merchanting partnership based in Calcutta. In 1856 Mackinnon formed the Calcutta and Burma Steam Navigation Company to carry post to the region: the Company appointed MMC as their agents, secured contracts to transport British
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
troops from Ceylon to India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
during the Indian Mutiny of 1857 and in 1862 floated on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
under the name British India Steam Navigation Company.
Inchcape and Company
In 1874, James Lyle MacKayJames Mackay, 1st Earl of Inchcape
James Lyle Mackay, 1st Earl of Inchcape, GCSI, GCMG, KCIE was a British colonial administrator in India.Mackay was the second son of James Mackay of Arbroath and his wife, Deborah Lyle...
joined Mackinnon and Mackenzie in Calcutta and by 1914 was the sole surviving senior partner in MMC. Largely responsible for solving India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
’s currency problems and for the adoption of the Gold Standard
Gold standard
The gold standard is a monetary system in which the standard economic unit of account is a fixed mass of gold. There are distinct kinds of gold standard...
, he was given a peerage
Peerage
The Peerage is a legal system of largely hereditary titles in the United Kingdom, which constitute the ranks of British nobility and is part of the British honours system...
by King George V
George V of the United Kingdom
George V was King of the United Kingdom and the British Dominions, and Emperor of India, from 6 May 1910 through the First World War until his death in 1936....
for his services to industry in 1911. He chose the title “Baron Inchcape of Strathnaver” to commemorate the Inchcape Rock, which lies off Arbroath
Arbroath
Arbroath or Aberbrothock is a former royal burgh and the largest town in the council area of Angus in Scotland, and has a population of 22,785...
, and Strathnaver
Strathnaver
Strathnaver or Strath Naver is the fertile strath of the River Naver, a famous salmon river that flows from Loch Naver to the north coast of Scotland...
in Scotland. He later became a Viscount and finally, in 1929, he was appointed the first Earl of Inchcape
Earl of Inchcape
Earl of Inchcape is a title in the Peerage of the United Kingdom. It was created in 1929 for the Scottish shipping magnate and public servant James Mackay, 1st Viscount Inchcape. He was Chairman of the P and O Steam Navigation Company...
.
1950 to 2000
By the 1950s, the Inchcape family had diverse interests around the world. This period bought new legislation and tax laws and, under the third Lord Inchcape, the family’s many interests, including MMC, were consolidated into Inchcape and Company. In 1958 Inchcape and Company became a public company and offered twenty five per cent of its equity for sale on the London Stock ExchangeLondon Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
.
Inchcape’s growth was largely due to a series of mergers and acquisitions, including the merger with Borneo Company in 1967, which almost doubled Inchcape’s size by adding Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
, Malaysia, Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
, Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
, Brunei
Brunei
Brunei , officially the State of Brunei Darussalam or the Nation of Brunei, the Abode of Peace , is a sovereign state located on the north coast of the island of Borneo, in Southeast Asia...
and Thailand
Thailand
Thailand , officially the Kingdom of Thailand , formerly known as Siam , is a country located at the centre of the Indochina peninsula and Southeast Asia. It is bordered to the north by Burma and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the...
to the operation. In 1972, Dodwell & Company was acquired, adding extensive shipping, motors and business machine trading in the Far East
Far East
The Far East is an English term mostly describing East Asia and Southeast Asia, with South Asia sometimes also included for economic and cultural reasons.The term came into use in European geopolitical discourse in the 19th century,...
.
Mann Egerton and Company, founded in the nineteenth century, with a portfolio that initially included de Dion
De Dion
De Dion may refer to:* Jules-Albert de Dion , automobile pioneer* de Dion-Bouton, automobile manufacturer* de Dion tube, automobile suspension...
, Renault Daimler, and later, British Leyland cars and a range of luxury vehicles, was acquired in 1973.
During the 1980s Inchcape acquired several petrol, textile, electronic and mineral testing and inspection companies and forms a specific testing business stream. This business stream kept on growing due to the acquisition of the Caleb Brett group, SEMKO and various others, such as ETL Testing Laboratories. In 1996 the tesing service division is part of a management buy-out by Charterhouse Development Capital
Charterhouse Capital Partners
Charterhouse Capital Partners is a private equity investment firm focusing on leveraged buyout of established, substantial businesses, based in Western Europe...
and renamed Intertek Testing Services .
Pride and Clarke brought the Toyota distribution concession with them in 1982. During the 1990s the greater part of the business came from sale of Toyota cars and by 1998 Toyota had bought a fifty-one per cent stake in Inchcape’s UK distribution company Toyota (GB).
2000 to present
In June 2000 Sir John EganJohn Egan (industrialist)
Sir John Egan is a notable British industrialist, associated with businesses in the automotive, airports, construction and water industries. He was chief executive of Jaguar Cars from 1984 to 1990, and then served as chief executive of BAA from 1990 to 1999...
was appointed chairman and Peter Johnson became Chief Executive Officer. The Competition Commission Report and subsequent order in 2000 regarding new UK car prices resulted in a sharp drop in profitability. The economic recovery in the Far East
Far East
The Far East is an English term mostly describing East Asia and Southeast Asia, with South Asia sometimes also included for economic and cultural reasons.The term came into use in European geopolitical discourse in the 19th century,...
helped restore profits as did the sale of Inchcape’s forty nine per cent stake in Toyota GB to Toyota in 2000.
In 2007 it acquired European Motor Holdings, a leading Europe
Europe
Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...
an motor retailer.
Operations
Headquartered in central London, Inchcape represents leading automotive brands and operates either a retail, or a vertically integrated retail model (i.e. exclusive distribution and retail), depending on the market. Inchcape's current key manufacturer partners are Toyota/LexusLexus
is the luxury vehicle division of Japanese automaker Toyota Motor Corporation. First introduced in 1989 in the United States, Lexus is now sold globally and has become Japan's largest-selling make of premium cars. The Lexus marque is marketed in over 70 countries and territories worldwide, and has...
, Scion, Chevrolet
Chevrolet
Chevrolet , also known as Chevy , is a brand of vehicle produced by General Motors Company . Founded by Louis Chevrolet and ousted GM founder William C. Durant on November 3, 1911, General Motors acquired Chevrolet in 1918...
, Subaru
Subaru
; is the automobile manufacturing division of Japanese transportation conglomerate Fuji Heavy Industries .Subaru is internationally known for their use of the boxer engine layout popularized in cars by the Volkswagen Beetle and Porsche 911, in most of their vehicles above 1500 cc as well as...
, BMW
BMW
Bayerische Motoren Werke AG is a German automobile, motorcycle and engine manufacturing company founded in 1916. It also owns and produces the Mini marque, and is the parent company of Rolls-Royce Motor Cars. BMW produces motorcycles under BMW Motorrad and Husqvarna brands...
, Mazda
Mazda
is a Japanese automotive manufacturer based in Fuchū, Aki District, Hiroshima Prefecture, Japan.In 2007, Mazda produced almost 1.3 million vehicles for global sales...
, Mercedes-Benz
Mercedes-Benz
Mercedes-Benz is a German manufacturer of automobiles, buses, coaches, and trucks. Mercedes-Benz is a division of its parent company, Daimler AG...
, Volkswagen
Volkswagen
Volkswagen is a German automobile manufacturer and is the original and biggest-selling marque of the Volkswagen Group, which now also owns the Audi, Bentley, Bugatti, Lamborghini, SEAT, and Škoda marques and the truck manufacturer Scania.Volkswagen means "people's car" in German, where it is...
, Audi
Audi
Audi AG is a German automobile manufacturer, from supermini to crossover SUVs in various body styles and price ranges that are marketed under the Audi brand , positioned as the premium brand within the Volkswagen Group....
and Honda
Honda
is a Japanese public multinational corporation primarily known as a manufacturer of automobiles and motorcycles.Honda has been the world's largest motorcycle manufacturer since 1959, as well as the world's largest manufacturer of internal combustion engines measured by volume, producing more than...
.
Inchcape currently has the following operations worldwide:
Australia
In Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
, Inchcape has been an importer and distributor for Subaru
Subaru
; is the automobile manufacturing division of Japanese transportation conglomerate Fuji Heavy Industries .Subaru is internationally known for their use of the boxer engine layout popularized in cars by the Volkswagen Beetle and Porsche 911, in most of their vehicles above 1500 cc as well as...
since 1973. It has the largest market share for a Subaru
Subaru
; is the automobile manufacturing division of Japanese transportation conglomerate Fuji Heavy Industries .Subaru is internationally known for their use of the boxer engine layout popularized in cars by the Volkswagen Beetle and Porsche 911, in most of their vehicles above 1500 cc as well as...
market outside Japan. Subaru Docklands, Inchcape’s flagship site is the largest Subaru dealership in the world. Inchcape also runs AutoNexus, a parts operation.
The Balkans
Inchcape has established a strong presence in the Balkans, distributing and retailing Toyota / Lexus
Lexus
is the luxury vehicle division of Japanese automaker Toyota Motor Corporation. First introduced in 1989 in the United States, Lexus is now sold globally and has become Japan's largest-selling make of premium cars. The Lexus marque is marketed in over 70 countries and territories worldwide, and has...
in Romania
Romania
Romania is a country located at the crossroads of Central and Southeastern Europe, on the Lower Danube, within and outside the Carpathian arch, bordering on the Black Sea...
, Bulgaria
Bulgaria
Bulgaria , officially the Republic of Bulgaria , is a parliamentary democracy within a unitary constitutional republic in Southeast Europe. The country borders Romania to the north, Serbia and Macedonia to the west, Greece and Turkey to the south, as well as the Black Sea to the east...
and the Republic of Macedonia
Republic of Macedonia
Macedonia , officially the Republic of Macedonia , is a country located in the central Balkan peninsula in Southeast Europe. It is one of the successor states of the former Yugoslavia, from which it declared independence in 1991...
. Inchcape operates a vertically integrated retail business in Estonia
Estonia
Estonia , officially the Republic of Estonia , is a state in the Baltic region of Northern Europe. It is bordered to the north by the Gulf of Finland, to the west by the Baltic Sea, to the south by Latvia , and to the east by Lake Peipsi and the Russian Federation . Across the Baltic Sea lies...
, Latvia
Latvia
Latvia , officially the Republic of Latvia , is a country in the Baltic region of Northern Europe. It is bordered to the north by Estonia , to the south by Lithuania , to the east by the Russian Federation , to the southeast by Belarus and shares maritime borders to the west with Sweden...
and Lithuania
Lithuania
Lithuania , officially the Republic of Lithuania is a country in Northern Europe, the biggest of the three Baltic states. It is situated along the southeastern shore of the Baltic Sea, whereby to the west lie Sweden and Denmark...
for Ford, Jaguar
Jaguar
The jaguar is a big cat, a feline in the Panthera genus, and is the only Panthera species found in the Americas. The jaguar is the third-largest feline after the tiger and the lion, and the largest in the Western Hemisphere. The jaguar's present range extends from Southern United States and Mexico...
, Land Rover
Land Rover
Land Rover is a British car manufacturer with its headquarters in Gaydon, Warwickshire, United Kingdom which specialises in four-wheel-drive vehicles. It is owned by the Indian company Tata Motors, forming part of their Jaguar Land Rover group...
and Mazda
Mazda
is a Japanese automotive manufacturer based in Fuchū, Aki District, Hiroshima Prefecture, Japan.In 2007, Mazda produced almost 1.3 million vehicles for global sales...
and retails BMW
BMW
Bayerische Motoren Werke AG is a German automobile, motorcycle and engine manufacturing company founded in 1916. It also owns and produces the Mini marque, and is the parent company of Rolls-Royce Motor Cars. BMW produces motorcycles under BMW Motorrad and Husqvarna brands...
, Mitsubishi
Mitsubishi
The Mitsubishi Group , Mitsubishi Group of Companies, or Mitsubishi Companies is a Japanese multinational conglomerate company that consists of a range of autonomous businesses which share the Mitsubishi brand, trademark and legacy...
and Hyundai
Hyundai
Hyundai ) is a global conglomerate company, part of the Korean chaebol, that was founded in South Korea by one of the most famous businessmen in Korean history: Chung Ju-yung...
in those countries.
Belgium
Inchcape has been the Belgian importer and distributor for Toyota / Lexus
Lexus
is the luxury vehicle division of Japanese automaker Toyota Motor Corporation. First introduced in 1989 in the United States, Lexus is now sold globally and has become Japan's largest-selling make of premium cars. The Lexus marque is marketed in over 70 countries and territories worldwide, and has...
since 1979.
China
In 2006, completed a Toyota showroom in Shaoxing
Shaoxing
Shaoxing is a prefecture-level city in northeastern Zhejiang province, People's Republic of China. Located on the south bank of the Qiantang River estuary, it borders Ningbo to the east, Taizhou to the southeast, Jinhua to the southwest, and Hangzhou to the west. It was once known as "越"...
. In 2008, it completed a Lexus
Lexus
is the luxury vehicle division of Japanese automaker Toyota Motor Corporation. First introduced in 1989 in the United States, Lexus is now sold globally and has become Japan's largest-selling make of premium cars. The Lexus marque is marketed in over 70 countries and territories worldwide, and has...
showroom in Shaoxing
Shaoxing
Shaoxing is a prefecture-level city in northeastern Zhejiang province, People's Republic of China. Located on the south bank of the Qiantang River estuary, it borders Ningbo to the east, Taizhou to the southeast, Jinhua to the southwest, and Hangzhou to the west. It was once known as "越"...
: this will be followed by a third Lexus
Lexus
is the luxury vehicle division of Japanese automaker Toyota Motor Corporation. First introduced in 1989 in the United States, Lexus is now sold globally and has become Japan's largest-selling make of premium cars. The Lexus marque is marketed in over 70 countries and territories worldwide, and has...
showroom in Shanghai
Shanghai
Shanghai is the largest city by population in China and the largest city proper in the world. It is one of the four province-level municipalities in the People's Republic of China, with a total population of over 23 million as of 2010...
later in 2008.
Greece
In Greece, Inchcape has been an importer and distributor for Toyota since 1987.
Guam
In the United States territory of Guam
Guam
Guam is an organized, unincorporated territory of the United States located in the western Pacific Ocean. It is one of five U.S. territories with an established civilian government. Guam is listed as one of 16 Non-Self-Governing Territories by the Special Committee on Decolonization of the United...
, Inchcape owns and operate Atkins-Kroll Motors, the islands' oldest automotive dealership, which they acquired in 1974. Atkins-Kroll, better known as AK to the locals in Guam, is the exclusive Chevrolet
Chevrolet
Chevrolet , also known as Chevy , is a brand of vehicle produced by General Motors Company . Founded by Louis Chevrolet and ousted GM founder William C. Durant on November 3, 1911, General Motors acquired Chevrolet in 1918...
, Toyota, Scion and Lexus dealer in the area.
Hong Kong
In Hong Kong, Inchcape is an exclusive importer and retailer for Toyota / Lexus
Lexus
is the luxury vehicle division of Japanese automaker Toyota Motor Corporation. First introduced in 1989 in the United States, Lexus is now sold globally and has become Japan's largest-selling make of premium cars. The Lexus marque is marketed in over 70 countries and territories worldwide, and has...
, Hino
Hino
Hino can mean:A Place:*Hino, Shiga*Hino, Tokyo*Hino, Tottori*Hino District, Tottori*Lake Hino in EstoniaA Company:*Hino Motors, Ltd.A Person*Rei Hino, a character on Sailor Moon*Hikari Hino, a Japanese porn star...
, Jaguar
Jaguar
The jaguar is a big cat, a feline in the Panthera genus, and is the only Panthera species found in the Americas. The jaguar is the third-largest feline after the tiger and the lion, and the largest in the Western Hemisphere. The jaguar's present range extends from Southern United States and Mexico...
, Mazda
Mazda
is a Japanese automotive manufacturer based in Fuchū, Aki District, Hiroshima Prefecture, Japan.In 2007, Mazda produced almost 1.3 million vehicles for global sales...
and Daihatsu. When combined, these franchises regularly achieve around 40 per cent of market share. Crown Motors have held the Toyota franchise since 1966.
Russia
In 2006, Inchcape formed a joint venture with the Independence Group of Companies, one of Moscow’s leading independent car Retailers and went on to secure a majority stake in a business in St Petersburg. In 2007, Inchcape continued expansion in St Petersburg with acquiring majority stakes in businesses retailing Audi
Audi
Audi AG is a German automobile manufacturer, from supermini to crossover SUVs in various body styles and price ranges that are marketed under the Audi brand , positioned as the premium brand within the Volkswagen Group....
and Peugeot
Peugeot
Peugeot is a major French car brand, part of PSA Peugeot Citroën, the second largest carmaker based in Europe.The family business that precedes the current Peugeot company was founded in 1810, and manufactured coffee mills and bicycles. On 20 November 1858, Emile Peugeot applied for the lion...
. In 2008, Inchcape bought a 75.1pc stake in Russia's Musa Motors Group.
Singapore
Inchcape is the exclusive importer and retailer for Toyota / Lexus
Lexus
is the luxury vehicle division of Japanese automaker Toyota Motor Corporation. First introduced in 1989 in the United States, Lexus is now sold globally and has become Japan's largest-selling make of premium cars. The Lexus marque is marketed in over 70 countries and territories worldwide, and has...
and Suzuki
Suzuki
is a Japanese multinational corporation headquartered in Hamamatsu, Japan that specializes in manufacturing compact automobiles and 4x4 vehicles, a full range of motorcycles, all-terrain vehicles , outboard marine engines, wheelchairs and a variety of other small internal combustion engines...
in Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
. It has held the Toyota franchise since 1967 and was awarded the Suzuki franchise in 1977.
Further reading
- Jones, Stephanie. Two Centuries of Overseas Trading: The Origins and Growth of the Inchcape Group. Basingstoke: Palgrave Macmillan, 1986. ISBN 0-333-37172-0