Luxury demand helps Inchcape drive sales

City A.M. Reporter
MULTINATIONAL car dealer Inchcape has reported a seven per cent rise in third quarter sales on the back of robust demand for premium and luxury vehicles.

The firm, which sells and distributes cars for manufacturers such as Toyota, Mercedes-Benz and BMW in 26 countries, yesterday said revenues rose to £1.63bn in the three months to the end of September.

Inchcape, which reported a 13.4 per cent rise in UK sales during the quarter, said demand for new cars was ahead of last year and that it continued to benefit from growth in the premium and luxury segments.

The company also said that it expects to deliver a “robust” financial performance in the full-year.

Like-for-like growth in North Asia was 7.1 per cent, while the emerging markets and Russia division rose by 6.7 per cent.