The Inchcape Group, the leading multi-brand automotive distributor and retailer in the world, entered the Central American market following the acquisition of Japanese Engines in Panama and the Automotive District in Costa Rica, Suzuki distributors in both countries.
The Inchcape Group has a history of more than 170 years in international trade and currently distributes 30 automobile brands with close relationships over 50 years old. In addition, it operates in 32 markets around the world and has been one of the main partners and distributors of Suzuki for more than 40 years.
According to Iván Espino, Commercial Manager of Inchcape CA, for the Group, the Panamanian and Costa Rican markets present opportunities for structural growth due to their low vehicle penetration rates and good expectations of economic growth.
“We see significant benefits for the business by combining the strength and local experience of Japanese Motors and the Automotive District, with the expertise, capabilities and global resources of Inchcape, which are already available to support and drive the development of the business and offer them our customers the best sales experience and after sales, “said Espino.
The presence of Inchcape in the Central American market is part of its expansion plan to emerging markets with high growth potential, which also includes South America, Africa and Russia.
“With the acquisition of Japanese Motors and Automotive District, we are acquiring a solid and well-managed business, which allows us to continue actively positioning Inchcape towards markets of greater growth and greater business performance in the distribution segment,” said Stefan Bomhard, CEO of the Inchcape Group. “I am delighted to significantly improve our relationship with Suzuki, a brand that is well positioned for growth and success in emerging markets and with whom we are proud to maintain a relationship of more than 40 years.”
In Panama, Japanese Motors, now in the hands of Inchcape, has started a new route to guarantee the best experience in sales and after sales of the Suzuki brand, positioned as one of the 5 best-selling brands in the country and with a network of distribution of 5 branches and a concessionaire nationwide.
“This is a source of pride for our team of collaborators who, with their effort and professional management, have led Japanese Motors to be part of a group that is a global leader in the automotive industry. Inchcape and Japanese Engines, together we’re going for more, “Espino concluded.
Inchcape seeks to continue its growth in the region in markets with potential for structural growth in order to consolidate its position as the world leader in the distribution and sale of premium and luxury brands in the automotive sector.