Inchcape has operations in Belgium, Greece, Finland, France and Luxembourg.
Core Markets
Belgium
Our Import and Distribution business in Belgium for Toyota/Lexus has been part of the Group since 1979 and we now sell c. 35,000 cars per annum through a mainly independent network of 79 retailers.
The Belgium market increased by 1.3% in 2007 and the Toyota/Lexus market share was stable at 5.6%.
The car parc in Belgium is dominated by diesel products, which
account for 75% of the market. Our business is seeing the benefits
of much improved diesel variants, such as in the Aygo, Yaris, RAV4
and the successful launch of the Toyota Auris in 2007 as well as
from the Lexus IS220d.
2008 has seen the important Belgium event, the Brussels Motor Show,
which is held bi-annually and is popular with retailers and private
buyers alike.
Greece
Inchcape has been the Importer and Distributor in Greece for Toyota since 1987 and now sells c. 30,000 units per annum. As the Distributor, Toyota Hellas S.A. is responsible for 35 independent authorised retailers and 40 repairers.
In 2007 Toyota Hellas once again achieved the market leader position in the Greek vehicle market with a market share of 10.9% for Toyota. Lexus has also increased its penetration in the Greek premium car market due largely to the hybrid range which accounts for 88% of Lexus sales.
Inchcape also retails Toyota/Lexus vehicles exclusively in Athens and Thessalonki.
A range of financial and insurance products is offered to the
Toyota/Lexus retail Customers through our relationship with EFG
Eurobank Ergasias, one of the leading banks in Greece.
Having a successful Greek operation has provided the platform for
Inchcape to invest in the Balkans. We currently hold the Toyota
distribution rights for Bulgaria, Romania, F.Y.R. Macedonia and
Albania.
Other European markets
Finland
In Finland Inchcape distributes and retails Jaguar, Land Rover and Mazda. In November 2007, the Finnish government announced changes in the tax system relating to engine emissions, effectively reducing car tax from January 2008. This is expected to stimulate new car sales throughout 2008.
France
In France Inchcape retails Volkswagen and Audi. Our operations are focused on the south west region in the market areas of Bordeaux, Toulouse and Montpellier. In February 2008, we announced our intention to dispose of our operations in this country.
Luxembourg
In Luxembourg Inchcape distributes and retails Jaguar, Toyota and Lexus.