In an interview with the Colombian newspaper *La República*, Romeo Lacerda, CEO of Inchcape Americas, highlighted that his goal for the next five years is to become the market-leading group, achieving a 20% market share.
Thursday, 19 December 2024
Inchcape Americas, the fourth most important automotive group in the country, already has its sights set on new points of sale for 2026. This holding company, which brings brands such as Suzuki, Mercedes-Benz, Seres, Hino, Citroën, Subaru, among others, aims to have more establishments in Cali and Medellín. In an interview with LR, Romeo Lacerda, CEO of the group, discussed the company's current situation and growth expectations.
¿What brands make up the automotive group?
We manage around 20 brands divided into passenger vehicles, including Mercedes-Benz, Suzuki, Citroën, Jaguar, Land Rover, Subaru, DFSK, and Seres; trucks, with Hino (starting January, we will have JAC); and machinery, with Xcmg and Devlon.
¿Are there more launches coming?
Starting in 2025, we will also distribute Great Wall Motors. We introduced this brand at the Auto Show and will begin sales in January.
¿What other projects does the company have?
We recently inaugurated a customer experience center at Usaquén Plaza, and the idea here is to bring all the brands we work with, offering a differentiated experience for each person. This first experience has been very successful, and we aim to open two more in Bogotá in 2025.
We are starting with Bogotá, and we believe that if it goes well, we will also expand to other cities like Cali and Medellín. This will probably happen in 2026, as next year we will focus on the capital.
¿How has Derco performed?
Derco was our largest acquisition in the last 50 years. The investment amount for the acquisition was US$1.6 billion. We are doing very well with the operation; in fact, we are completing the second year of integration.
¿How has it contributed to your growth?
It was an acquisition that transformed the organization. We have grown more than three times the size of the business in Latin America after the acquisition, thanks to the addition of new brands, mainly Chinese ones.
¿What are your projections for 2025?
We have an important growth agenda, and Colombia is a strategic country. Our goal in the coming years is to double the size of the business. We are the fourth-largest automotive group in Colombia with a 10% market share, and our goal is to reach 20% by 2029.
¿Which is the strongest brand in the portfolio?
Suzuki is the most important brand in terms of volume, but we must also consider other segments. Mercedes-Benz and Subaru play a significant role in the premium segment, and DFSK does the same in the entry-level segment.
¿How do you see the luxury market? Has it improved?
Although the market has shown some recovery, the premium segment continues to contract compared to 2023. It should rebound in 2025.
¿How relevant is the Colombian market for the group?
It is very important, but the country's motorization rate remains low. We believe the market will grow as the economy follows the same path.
¿In how many countries do you operate, and how many people do you employ?
We operate in 14 countries in the region and employ 1,900 people. By February, this will increase to 2,300 with the launch of our Inchcape Global Business Services, GBS.
See the interview in the newspaper here