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Markets News

Inchcape sees buoyant H2 as global auto demand picks up

Nov 5 (Reuters) - Auto distributor Inchcape said on Thursday it expects its second half to be ahead of market view after a better-than-expected third quarter, helped by pent-up demand for new and used cars after the first wave of corornavirus-led lockdowns.

The company, which distributes and sells premium and luxury car brands in more than 30 countries, said revenue for the three months ended Sept. 30 fell 19% to 1.9 billion pounds ($2.47 billion).

$1 = 0.7704 pounds Reporting by Yadarisa Shabong in Bengaluru, Editing by Sherry Jacob-Phillips

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