INCHCAPE has sold five of its Volkswagen franchises and two Audi dealerships – just a couple of weeks after it refused to be drawn on reports that it was intending to cut back its network.
The company, which sells and distributes premium and luxury vehicles, concluded a deal that saw its VW van and car franchises in Romford, Colchester, Southend and Chelmsford go to Group 1, and its Tunbridge Wells and Maidstone Audi outlets swell Motorline’s portfolio.
Earl J Hesterberg, Group 1’s president and chief executive, said: ‘We are pleased to further expand our global relationship with Volkswagen through the addition of these five franchises to our growing UK platform.’
Meanwhile, Motorline chairman Glen Obee said: ‘We are delighted to have completed this deal, which continues our growth and investment on behalf of the Audi brand in the Kent territory.
‘This investment will also be further supported by our new purpose-built Audi terminal being developed in Canterbury opening in early 2020, which will further enhance the class-leading facilities we will offer to all Audi customers new and old with what will be an outstanding, state-of-the-art experience.
‘Our pursuit of the very highest standards and proud history of operating in the Kent area provides the ideal foundation for us to deliver even greater success for the Audi brand throughout the Kent territory.
‘The Volkswagen Group is a significant and key partner for Motorline and we are pleased to be able to continue to expand and develop our business with the support of their management team and our growing partnership.’
Earlier this month, Inchcape issued a statement to Car Dealer in which it stopped short of denying that it was planning to reduce its network.
The sales went through for undisclosed sums.