Accelerating
transformation
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"2024 was a transformational year for Inchcape, as we became leading global automotive Distributor, following the disposal of our UK retail business. Automotive Distribution is capital-light and highly cash generative, and Inchcape remains the world’s leading independent player in this segment."
"Inchcape is the leading independent global provider of an essential function in the global automotive industry - Distribution. OEMs award us with the exclusive rights to distribute their vehicles and parts, in smaller, more complex and high-growth markets. Our business is characterised by long-term relationships with our OEM partners, which are supported by our differentiated technology capabilities and the dedication of our highly talented people."
"Inchcape delivered strategic, operational and financial progress in FY 2024, reflecting our diversified and scaled global market leadership position, our long-standing and valuable OEM relationships and our differentiated technology capabilities."
"2024 was a transformational year for Inchcape, as we became leading global automotive Distributor, following the disposal of our UK retail business. Automotive Distribution is capital-light and highly cash generative, and Inchcape remains the world’s leading independent player in this segment."
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"Inchcape is the leading independent global provider of an essential function in the global automotive industry - Distribution. OEMs award us with the exclusive rights to distribute their vehicles and parts, in smaller, more complex and high-growth markets. Our business is characterised by long-term relationships with our OEM partners, which are supported by our differentiated technology capabilities and the dedication of our highly talented people."
"Inchcape delivered strategic, operational and financial progress in FY 2024, reflecting our diversified and scaled global market leadership position, our long-standing and valuable OEM relationships and our differentiated technology capabilities."
ACCELERATING INCHCAPE’S TRANSFORMATION
During 2024, Inchcape accelerated its transformation as the leading independent automotive Distributor globally.
This was achieved through the sale of the UK Retail business and a record number of Distribution contract wins with OEM partners.
Supported by a refreshed strategic approach, Accelerate+, we will drive further scale and diversification across our global business, as we look to deliver sustainable growth for our OEM partners and shareholders, and exceptional experiences for our customers.
(2023: £9.4bn)
(2023: £492m)
(2023: 6.6%)
(2023: 27%)
(2023: 1.0%)
(2023: 702)
(2023: 28%)
(2023: £570m)
(continuing operations)
(2023: £378m)
(2023: £283m)
(2023: £593m)
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OUR OPPORTUNITY
FOR GROWTH
Our Total Addressable Market (TAM) are markets typically characterised by high GDP growth, low motorisation rates, more complex and is estimated to be around 10.8 million vehicles sold annually. We have a market share of only 3% of this TAM, emphasising our opportunity for growth. The chart below brings this to life, showing that if we were to reach our 10% market share ambition over the long term, we would treble the size of our business.
Revenue: ~£32bn
Revenue: ~£9.7bn
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Our Accelerate+ strategy enhances Inchcape's position as the world’s leading automotive Distributor, so we can continue to be a brilliant partner for OEMs and deliver exceptional experiences for customers.
Scale
Scale enables us to grow our market share in passenger cars in both existing and new markets and deliver growth through extending our distribution capabilities into Adjacent Vehicle Categories.
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optimise
Optimise ensures Inchcape continues to be the most efficient and effective Distribution partner for OEMs.
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our enablers
Our success in delivering Accelerate+ will be achieved with enablers from throughout our business.
CULTURE & CAPABILITIES
DIGITAL, DATA & ANALYTICS
OEM RELATIONSHIPS
M&A & INTEGRATION
Developing a culture to attract and retain talent and capabilities to deliver Accelerate+. A culture built on fresh thinking and collaboration.
Continuing investment in technological capabilities to stay ahead of the curve so we can deliver outstanding experiences for customers and growth for our OEM partners.
Developing an even deeper OEM landscape so we can continue to develop and provide an outstanding value proposition to our OEM partners.
Ensuring acquisitions take place in line with a disciplined approach to capital allocation and improving the way we integrate the business we acquire.
The global mobility transition, delivered locally.
The global mobility transition, delivered locally
Inchcape’s role is to help to create a transition that is inclusive and long-lasting, with a commitment to work collaboratively with stakeholders to shape a future where sustainable mobility is a reality for all.
Bringing mobility to the world’s communities for today, for tomorrow, and for the better.
The global mobility transition, delivered locally.
Becoming a leading authority in the mobility transition in our markets and helping to close knowledge gaps for the benefit of our OEMs, policy makers, and customers.
Driving the adoption of new technologies from our OEM partners across our Markets by fostering the ecosystem needed for widespread technicians completed a battery repair low-emission vehicle use.
Recognising our industry’s environmental impact, the Planet pillar leads our efforts to address climate change.
Supporting our people and nurturing their talents and wellbeing, the People pillar promotes a safe, inclusive, and diverse workplace.
Driving impactful change by focusing on safe mobility and social inclusion through the Places pillar.
Operating ethically drives the Practices pillar to rigorously update and reinforce our policies.