Inchcape cautious despite strong Q1

CAR dealership Inchcape yesterday reported a "stronger than expected" performance in the first quarter of 2010, with like-for-like sales up 14.8 per cent against weaker trading a year earlier.

The company, which sells brands including Toyota, Volkswagen and Mercedes-Benz in the UK, remains cautious for the rest of the year with weak demand in several markets and does not expect a "sustained" recovery until well into the second half of the year. Chief executive Andr Lacroix said: "We are pleased with our first-quarter performance."