AGM Statement

Inchcape PLC
16 May 2002


16 May 2002

Inchcape AGM Trading Statement


In his statement to shareholders at today's Annual General Meeting, Sir John
Egan, Chairman of Inchcape plc, made the following comments about current
trading:

Trading in the UK has started well and we remain positive about this market.

In Greece and Belgium the new Corolla has been well received and profits are
expected to improve in both countries this year.

In Hong Kong the taxi market as predicted has significantly reduced. The
underlying retail market remains challenging. However aftersales and finance
income remain strong.

In Singapore the COE (Certificate of Entitlement) quota for the next twelve
months has been issued. This is in line with what Inchcape expected, as is
current trading. The offer to acquire the minority shareholding in the Group's
quoted Singaporean subsidiary closes today and, so far, we have, received over
94.0% of acceptances.

In Australia the market environment remains good and performance is exceeding
expectations.

On balance there are many positive factors, which are expected to offset market
pressures in Asia, demonstrating the benefit of developing scale businesses in
our six core markets.  As a result Inchcape is confident that 2002 will see
further progress.



Notes to editors

Inchcape, as an international automotive services group, provides quality
representation for its manufacturer partners, a choice of channels to market and
products for its retail customers and a range of business services for its
corporate customers. Operating primarily in the UK, Greece, Belgium, Australia,
Hong Kong and Singapore, its key partners are Toyota, Subaru, Ferrari, Jaguar
and Land Rover. Inchcape's activities include exclusive Import, Distribution and
Retail, Business Services, automotive E-commerce and Financial Services.



For further information, please contact:



Group Communications, Inchcape plc                             020 7546 0022

John Olsen/Tom Leatherbarrow, Hogarth Partnership Limited      020 7357 9477


For further information, visit us at www.inchcape.com



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