10:48 am, August 1, 2022
Dealer group Inchcape has confirmed the sale of its Toyota Centre in Oxford to Steven Eagell Group for an undisclosed fee.
The outfit says the decision to part with the site is in line with ‘Toyota’s overall strategy to reshape their market areas’.
It means that Inchcape has reduced its presence in the south of England, where Steven Eagell has a ‘long-standing history’.
The purchase takes Steven Eagell’s total number of sites to 32, consisting of 23 Toyota dealerships and nine representing Lexus.
Steven Eagell, CEO of the Car Dealer Top 100 group, said: ‘I am very pleased to confirm we have completed the purchase of the Toyota Centre in Oxford from Inchcape Retail.
‘This is an exciting opportunity to further our relationship and success with Toyota. It is a great fit for us both strategically and geographically and is a long-established and successful business, so we are delighted to be adding this centre to the group.
‘Our initial priority will be the integration of the new business into the group, with minimum disruption.
‘We are very much looking forward to welcoming new team members and working with them to continue to provide a first-class service to both existing and new customers.’
The sale of the Oxford site follows the news that earlier in the year Inchcape completed the purchase of Toyota Warrington from Bentleys Motor Group.
Confirming the latest news, George Ashford, Inchcape UK CEO, said: ‘The sale of Toyota Oxford is in line with Toyota’s overall strategy to reshape their market areas.
‘Whilst we recently completed the purchase of Toyota Warrington from Bentleys Motor Group, reflecting our strong presence in the north, Steven Eagell has a long-standing history in the South making them a good business to take on the well-established and successful Oxford centre.’
