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Inchcape cautious over UK demand
CAR dealership Inchcape today said it was “outperforming” the UK car market with a 3% hike in sales so far this year, but cautioned domestic demand was weakening.
The group, which sells marques including Audi, BMW and Mercedes-Benz, said the like-for-like sales increase came despite a 3.5% fall in UK new car registrations last month as the market declined after a “buoyant” April.
It added that June was also set to be weak.
Inchcape’s global reach helped the group notch up a 9% increase in pre-tax profits for the five months to May 31.
However, the firm said profits on a constant currency basis remained flat on last year.
And group wide comparative sales growth slowed to 1.4% from the 3.3% seen in the first three months of the year.
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