 | Home > Dealership & Sponsor Feedback > Inchcape sells off Jaguar Land Rover York |
 
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| Supacat Member Since: 16 Oct 2012 Location: West Yorkshire Posts: 11018   
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"Inchcape has confirmed the sale of two of its dealerships, bringing to a close a recent round of disposals.
The dealer group has sold its Jaguar Land Rover showroom in Clifton Moor, York, and its BMW dealership in Cobham, Surrey. Jaguar Land Rover York will transfer to Lloyd Motor Group, with the deal including a payment of ‘goodwill relevant to the highly attractive nature of the profitable, high-performing JLR Arch concept dealer’, an Inchcape statement said. Employees at both sites are expected to keep their jobs with the respective buyers. ‘Today we have confirmed the sales of two of our sites,’ the statement said. ‘These sales finalise our disposals programme, which has seen us exit us from two geographic markets and helped to create a density of representation within our wider portfolio. ‘We have communicated this message with all of our colleagues at these locations and consultation will begin over the next few days. All colleagues at these locations are expected to transfer to the new owners under TUPE.’ The statement added: ‘These sales enable us to continue reinvesting in our network for future growth, with our Norwich and Guildford JLR Arch concept developments under way, alongside a major refurbishment of Kings Lynn Land Rover service centre and the relocation of Bournemouth Porsche." https://cardealermagazine.co.uk/publish/in...oms/224741 |
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3rd Jun 2021 5:50am |
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| AMBxx Member Since: 24 Jul 2016 Location: York Posts: 1032 
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Anyone think this will make much difference to the service in York?
I've always had dreadful service from them. However, the BMW dealership in York is also Inchcape and they've been great. |
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3rd Jun 2021 6:35am |
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| markb110 Member Since: 22 May 2010 Location: Guildford Posts: 2640  
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They probably saw how the service and sales staff at that BMW garage in Cobham treat customer cars with a blast, I mean test drive down the A3 then on the return whilst in the outside lane they then cross over to the exit ramp at the last minute before heading back to the dealership.
But then I suppose as most of their client treat their cars like that……….  |
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3rd Jun 2021 12:05pm |
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| Rashers Member Since: 21 Jun 2015 Location: Norfolk Posts: 3506 
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How long did it take their PR department to write that lot?
If they spent more money on customer service and less on clap trap like that, Inchcape would be a far better company. Have I just read it wrong, but does that read like Inchcape have paid Lloyds to take a 'highly performing' and 'profitable' dealership off their hands? If Lloyds paid Inchcape, I can't see the point in mentioning this 'goodwill' as most people would expect to part with money when taking over someone else's business. Why would you pay someone to take a 'highly performing' and 'profitable' business off your hands. Is it because no one actually wanted it or JLR wants money spent on it to keep the franchise? My favourite line from all of that is 'create a density of representation within our wider portfolio'. I will write that down and cherish it. I read that as we couldn't handle being a country-wide company. As I am local, I can tell you that the Inchcape Norwich site has been made a hell of a lot smaller over the last few years. Big sections have been sold off. It is very scruffy. The Jaguar side looks much nicer than the LR. The King's Lynn site, three years ago was going to be rebuilt in a much larger location. It was to have the Jaguar marque added, MOT facilities, more workshop bays and more customer parking. It now doesn't sell new cars, only second hand. It is very compact to say the least and when I used to use it, if you found somewhere to park, you were doing well. That's a shame because out of the two sites, I liked the King's Lynn people much better. I expect Norwich will have a shed load of money spent on it so it looks the same as all the other JLR sites. It needs it. It's very scruffy. |
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3rd Jun 2021 2:42pm |
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| Co1 Member Since: 19 Aug 2018 Location: North Yorkshire Posts: 3677 
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It can’t get any worse that’s for sure. Their COVID precautions were an embarrassment. |
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3rd Jun 2021 4:45pm |
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| Lodelaner Member Since: 04 Feb 2010 Location: Lambourn Posts: 632 
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I believe you read it wrong. The customer list, service workshop and warranty work is the largest profit centre for a dealership and I would imagine that York has a long list that valued a large 'goodwill' payment outside of the bricks & mortar of the business. JB @Lodelaner Instagram Youtube greenlaning and other LR related content |
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3rd Jun 2021 5:46pm |
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| Pacha Member Since: 23 Feb 2020 Location: North Yorkshire Posts: 772 
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I would imagine the lions share is the warranty work......
 Rgds.
Chris |
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3rd Jun 2021 5:59pm |
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| Rashers Member Since: 21 Jun 2015 Location: Norfolk Posts: 3506
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I understand
Still think off loading a profitable dealership seems a bot of a strange thing to do?? |
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3rd Jun 2021 6:00pm |
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| Supacat Member Since: 16 Oct 2012 Location: West Yorkshire Posts: 11018
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Maybe this is the driver:
Inchcape Retail’s annual losses worsen nearly tenfold to £65.6m as it claims more than £11m in furlough * Franchised retailer group’s pre-tax loss widens by similar proportion to £76.4m * Operating deficit plummets from £4.8m to £74.1m * Turnover sinks from £1.51bn to £1.08bn https://cardealermagazine.co.uk/publish/in...ugh/237715 |
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21st Oct 2021 4:44pm |
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| Rashers Member Since: 21 Jun 2015 Location: Norfolk Posts: 3506
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How do Inchcape compare to other large dealers, Supacat? Has anyone else issued their trading figures?
Must have been a poor old year for all motor dealers during lockdown, with or without £11m of furlough. And now many new cars are in short supply due to the chip shortage. It never rains, it pours! I'm almost feeling sorry for them  |
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21st Oct 2021 7:32pm |
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| Supacat Member Since: 16 Oct 2012 Location: West Yorkshire Posts: 11018
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Take your pick ~ extremely mixed set of results, some skewed by furlough payments, but some not:
 Click image to enlarge |
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22nd Oct 2021 6:05am |
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| Rashers Member Since: 21 Jun 2015 Location: Norfolk Posts: 3506
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Cheers Supacat
So most didn't do too bad considering. Some have the Government to thank for saving their year end. Inchcape really don't look very healthy. Any ideas why Inchcape should be hit so hard? Could it be the way the company is financed. Some motor groups I expect are still family owned (that's a guess on my behalf) so would be less reliant on borrowing and more 'cash rich' rather than being mortgaged up to the gunnels. I remember being told not to do an HPI check on my Defender when I bought it from Inchcape as it would show finance outstanding as all vehicles on their forecourts were financed. I don't work in the motor trade so this may or may not be normal. Off topic a little, I downloaded a letter from one of our local garage groups in Norfolk, Holdens. Their MD Tim Holden was explaining why they are moving some of their dealership locations. In a customer focused letter (and I am paraphrasing) he stated that the motor industry will be changing beyond recognition in the next 10-20 years with more and more EV Vehicles and there is less to service so they will not need as much workshop space going forward. Interesting but not great news for any budding motor mechanics |
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22nd Oct 2021 9:51am |
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