INCHCAPE has stopped short of denying reports that it is planning to reduce the size of its dealer network by up to 20 per cent.
The company, one of the leading franchised retailer groups in the UK, issued a statement to Car Dealer this afternoon saying: ‘We are always assessing a range of opportunities and initiatives in support of our strategy.
‘We are committed to informing our colleagues first whenever changes are proposed and we do not comment on rumour or speculation in the market.’
The company operates more than 100 dealerships across the UK and represents brands such as BMW, Audi, Toyota and Volkswagen. Many of its outlets are concentrated in the north-west and south-east of England.
In May, the company reported a positive trading performance for the first four months of the year.
It revealed a three per cent rise in group revenue to £3.1bn and Stefan Bomhard, group chief executive, said at the time: ‘I am pleased with our performance over the first four months. We continued to grow revenue and trading is in line with our expectations.’