Inchcape ups revenue in emerging markets, Russia
MOSCOW. Oct 24 (Interfax) - British company Inchcape plc increased its revenue in the Emerging Markets and Russia region in the third quarter of 2013 by 6.7%, without foreign currency fluctuations, one of the leading international car dealers and distributors said in a press release.
The company does not disclose results for specific markets. Inchcape said it had seen a rise in sales in South Africa, China and Eastern Europe, noting that the market was difficult in Russia. "Competition is putting growing pressure on the profit margin for sales of new cars in Russia," it said.
Inchcape revenue in the third quarter grew 7% to 1.62 billion pounds sterling and 6.7% in January-September to 4.9 billion pounds sterling.
In Russia, Inchcape sells 11 car brands through 23 dealerships in Moscow and St. Petersburg.
Sales of new cars and light commercial vehicles in Russia fell 7% in January-September, the Association of European Businesses Auto Manufacturers Committee said.
