What was announced early this year has now come to fruition. Inchcape has formalized its joint venture with CATS Group. The new company will now be in charge of brands like Mercedes-Benz, Jaguar, Land Rover, Dodge, Ram and Harley-Davidson.
Now known as Inchcape Philippines, 60% will be owned by Inchcape while the remaining 40% will be held by the Ang family, the founders of the CATS Group. Alex Hammett, Managing Director of South Asia & Pacific, will assume responsibility for the business in the Philippines with the local leadership team, including Frankie Ang as Chief Operating Officer. Ang is the son of CATS founder Felix Ang, and has been involved in the family business for many years now.
The joint venture will leverage the strength of both parties. Inchcape Philippines will bring global market knowledge and processes, leadership in digital and data, and EV expertise to the growing Philippine market, where automotive sales are forecasted to grow to 500,000 in 2026—with the luxury vehicle market expected to grow at an even faster rate.
The timing of this announcement coincides with Mercedes-Benz Philippines teasing its forthcoming electric vehicle lineup. Luckily we’ve already driven them, but the final PH lineup has yet to be announced.
Now some words from the bosses:
“We are very excited to officially announce our entry into the Philippine market. This deal is a highlight of our ambition to be the undisputed distribution partner for mobility companies. With a shared ambition for innovation to drive better operational performance and to deliver an exceptional customer experience, we look forward to powering better mobility for the Philippine automotive market,” said Hammett.
“For over 30 years of operating in the Philippines, our core purpose and mission has always been to fulfill our customers’ aspirations of owning the cars of their dreams. Together with Inchcape’s digital leadership and global scale advantage, we can usher in a new era for mobility via Inchcape Philippines,” shared Ang.
The past year has seen a lot of consolidation and movement in the PH auto industry. This shows the potential that’s still untapped. Exciting times.
NOTE: Main photo was taken in January this year at the first presscon for Inchcape.
