INCHCAPE Plc, a prominent global automotive distributor, has officially made its entry into the Philippines by forming a joint venture with CATS Group of Companies, a leading distributor of luxury vehicles in the country. The agreement involves Inchcape acquiring a controlling 60-percent stake, while the remaining 40 percent remains with the CATS founders, the Ang family.The partnership, known as Inchcape Philippines, combines the resources, digital capabilities, global insights, and local market knowledge of Inchcape and CATS. The objective is to enhance mobility in the Philippines.Inchcape is a major global player in automotive distribution, with operations spanning six continents. Headquartered in London, it employs approximately 19,000 people worldwide. The group's presence in the Asia-Pacific (APAC) region began in 1967 with the acquisition of Borneo Motors, a company established in 1925 for vehicle distribution in Singapore. Over time, Inchcape APAC has expanded considerably across the region, distributing new vehicles and parts for numerous original equipment manufacturer (OEM) brands in countries like Australia, Brunei, Hong Kong, Indonesia, Guam, Macau, New Zealand, the Philippines, Saipan, Singapore and Thailand.This move into the Philippines further strengthens Inchcape's established presence in the Asia-Pacific, consisting of over 10 markets. The joint venture aligns with Inchcape's 'Accelerate Strategy,' aimed at expanding its global footprint, particularly in Asia and other growth markets. It also reinforces Inchcape's global reach and partnerships with notable OEM brands such as Mercedes-Benz, Chrysler, Dodge, Jeep, Ram, Jaguar, Land Rover, Mazda and Harley-Davidson.Alex Hammett, Inchap managing director of South Asia and Pacific, will oversee the business in the Philippines alongside the local leadership team, including Frankie Ang, chief operating officer of Inchcape Philippines.Inchcape Philippines will bring its global market knowledge, streamlined processes, expertise in digital and data, and electric vehicle know-how to the rapidly expanding and dynamic Philippine automotive market. The market is expected to see automotive sales reach 500,000 by 2026, with the luxury vehicle segment projected to grow at an even faster rate.
