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Car dealer Inchcape hit by mixed fortunes

By Daily Mail Reporter
Updated: 05:57 EDT, 13 May 2011

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Car dealer Inchcape gave a stark assessment of the uneven nature of the global economic recovery as it reported revenues ahead of expectations.

Sales of £1.56bn in the year to date are 0.8% below last year, but ahead of forecasts which suggested a more pronounced decline.

While Asia-Pacific and emerging markets enjoyed growth of nearly 11%, Inchcape (down 0.5p to 373.55p) said revenues from the UK and Europe were stuck in reverse, down 9.6%.

Fellow dealership Lookers (up 2p to 65p) said trading so far this year was ahead of expectations, with both the car and parts division trading strongly.

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