Inchcape officially enters Philippine market, expanding footprint in the region and establishes joint venture with CATS Group of Companies
Manila, 2 August 2023 – Inchcape Plc (“Inchcape”), the leading global automotive distributor, officially enters the Philippines through the formalisation of a joint venture with CATS Group of Companies (“CATS”), the leading distributor of luxury vehicles in the country. The deal includes the acquisition by Inchcape of a controlling 60% stake, with the remaining 40% with the CATS’ founding Ang family.
Known as Inchcape Philippines, the joint venture combines Inchcape and CATS’ commercial resources, advanced digital capabilities, global insights, and local market knowledge with the goal to power better mobility in the Philippines.
The expansion into the Philippines further builds on Inchcape’s well-established presence in the Asia-Pacific (“APAC”) region of over 10 markets. This joint venture is indicative of Inchcape’s “Accelerate Strategy” that aims to expand the Group’s global footprint as well as its presence in Asia and other growth markets. It also strengthens Inchcape’s geographic reach and partnerships with key global OEM brands: Mercedes-Benz, Chrysler, Dodge, Jeep and Ram, Jaguar, Land Rover, as well as Mazda and Harley-Davidson.
Alex Hammett, Managing Director of South Asia & Pacific will assume responsibility for the business in the Philippines with the local leadership team, including Frankie Ang, Chief Operating Officer, Inchcape Philippines.
Inchcape Philippines will bring global market knowledge and processes, leadership in digital and data, and EV expertise to the fast growing and dynamic Philippine market where automotive sales are forecasted to grow to 500,000 in 2026 with the luxury vehicle market expected to grow at an even faster rate.
Alex Hammett, Managing Director, South Asia & Pacific, Inchcape APAC, commented:
“We are very excited to officially announce our entry into the Philippine market. This deal is a highlight of our ambition to be the undisputed distribution partner for mobility companies. With a shared ambition for innovation to drive better operational performance and to deliver an exceptional customer experience, we look forward to powering better mobility for the Philippine automotive market.”
Frankie Ang, Chief Operating Officer, Inchcape Philippines, commented:
“For over 30 years of operating in the Philippines, our core purpose and mission has always been to fulfil our customers’ aspirations of owning the cars of their dreams. Together with Inchcape’s digital leadership and global scale advantage, we can usher in a new era for mobility via Inchcape Philippines.”
Contact for Enquiries
Nikki Recio ([email protected])
Inchcape is the leading global automotive distributor, with operations across six continents. Through the unique expertise of our people, our suite of cutting-edge technology products, and our approach to advanced data analytics, we provide the platform for the world’s leading mobility companies to accelerate their ambitions in markets where we and our partners want to succeed. In 2021, Inchcape plc opened a Digital Delivery Centre in the Philippines, providing digital and data analytics support and insights for the Group.
Inchcape is driven by its purpose of ‘bringing mobility to the world’s communities, for today, for tomorrow and for the better’. We are committed to making a positive contribution to the communities in which we operate, for our people, for society and for the planet. The Group is headquartered in London and employs around 19,000 people globally.
Inchcape’s modern presence in Asia-Pacific started in 1967 with the acquisition of Borneo Motors, a company founded in 1925 to distribute vehicles in Singapore. Inchcape APAC has since expanded significantly across the region and today distributes new vehicles and parts in Australia, Brunei, Hong Kong, Indonesia, Guam, Macau, New Zealand, Philippines, Saipan, Singapore and Thailand for a large portfolio of OEM brands. Inchcape Asia-Pacific is headquartered in Singapore and employs around 3,900 people across the region.
About Inchcape Philippines
Inchcape Philippines is a joint venture by Inchcape and CATS Group of Companies. Formalised in August 2023, Inchcape Philippines combines in-market expertise with unique technology, advanced data analytics, and customer-centered innovation to create excellent customer experiences and power better mobility in the country. Inchcape Philippines drives distribution excellence with our brand partners: Mercedes-Benz, Chrysler, Dodge, Jeep and Ram, Jaguar, and Land Rover, and operates dealerships for Mazda and Harley Davidson Motorcycles. The company has 450 employees across its distribution and retail operations.
Inchcape Philippines is part of the South Asia & Pacific cluster in APAC, alongside the other growth markets of Brunei, Thailand, Guam and Saipan.