Fleet News

Inchcape profits up 12%

INCHCAPE plc, the world's largest independent importer and distributor of motor vehicles, has unveiled a 12% rise in pre-tax profits to £184.1 million (1996:£165.1 million) on turnover of £5,931.4 million in 1997. The company owns 49% of Toyota (GB), and imports Lexus, Chrysler Jeep, Daihatsu, Ferrari and Mazda, all of which performed strongly in 1997.

Chrysler's UK sales of 17,519 last year were up by 50.7% on 1996, Toyota/Lexus sales rose 17.2% to a record 79,015 units, Mazda's registrations were up by 25%, and Daihatsu was the fastest growing car brand in the UK with sales up 48%.

No information was available on Inchcape's contract hire and fleet management companies Kenning Leaseline and Mann Egerton Vehicle Contracts. Announcing the results, Inchcape chairman Sir Colin Marshall said the company would focus entirely on its international motors division, demerging other operations.

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