Car dealer group Inchcape will sell its UK retail operations to US-based Group 1 Automotive in a deal worth £346 million.
Inchcape, which operates more than 120 dealerships in the UK, said the sale allows it to become more distribution-focused. This will provide higher margins in the 40 countries in which it operates.
According to Car Dealer Magazine, 99% of Inchcape’s global revenue and operating profits will come from its distribution activities.
The sale to Group 1, which already operates in the UK, with 79 franchises and 3300 staff, is
