The semiconductor shortage that has hit the production of new cars has continued to drive demand for used vehicles and has raised revenue and profit expectations at Inchcape.
The car dealer group reported a stronger performance than expected in the third quarter and raised its full-year expectations, forecasting a pre-tax profit of “at least £290 million”.
It said that revenue was up 10 per cent year-on-year, but was 2 per cent below its figures in the third quarter of 2019.
Inchcape operates in 36 markets in Europe, Africa, Asia, the Americas and Australasia, as well as Britain. It employs about 5,500 staff in the UK, with more than 100 dealerships.
Duncan Tait, its chief executive, said that “the pandemic continues to cause uncertainty across
