8:42 am, July 31, 2025
Global automotive distributor Inchcape saw revenue and pre-tax profit take a tumble in the first half of 2025, as tariffs and other global economic headwinds took effect.
The business – which now has no UK car dealerships after selling this side of the business to Group 1 last year for £346m – reported an interim revenue of £4.3bn for the first half, down 4% at constant currency and 9% on a reported basis.
In its half-year report, Inchcape said the fall in revenue was due to the disposal of ‘non-core retail asset in the Americas’ and foreign exchange market movements.
Adjusted pre-tax profit, meanwhile, fell 4% in constant currency and 12% on a reported basis to £200m.
Inchcape reaffirmed its full-year outlook despite market reactions, anticipating stronger growth in the second half thanks to upcoming product launches and ongoing cost management.
The group also revealed nine new distribution contracts, further share buyback plans, and declared an interim dividend of 9.5p per share.
Inchcape also reported it had acquired Iceland’s leading dealer group Askja.
Group CEO, Duncan Tait, said: ‘Against a fast-moving tariff situation, Inchcape delivered robust results for H1 2025.
‘We continued to execute Accelerate+, further diversifying our business across geographies and strengthening our OEM partnerships, consolidating our position as the leading global independent automotive distributor.
‘We remain focussed on driving growth and value for shareholders, with our first acquisition since 2023, entering an exciting new market and broadening our range of OEM relationships, and our on-going commitment to share buybacks.’
He added: ‘We remain excited about the future for Inchcape. Our Accelerate+ strategy will help us to deliver another year of growth in FY 2025 with our confidence growing about the second half of the year.’
After publication of the half-year report, shares in Inchcape fell by 7%.
