Car dealer expands

Inchcape is buying central american car distribution business Grupo Redelman for £ 200m as it tries to boost its presence in emerging markets.

Family- run Grupo Redelman is the exclusive retailer for Suzuki in both costa Rica and panama, selling 12,500 vehicles in 2017. Stefan Bomhard, the Londonlisted car dealer’s chief executive, said: ‘Inchcape’s portfolio and presence in Latin america has been significantly strengthened.’

Last month Inchcape reported a 38pc rise in profit, which was helped in part by a strong performance in asia and emerging markets.