Inchcape cuts margin forecast, shares tumble
British auto distributor Inchcape reduced its annual adjusted operating margin forecast to about 5.5 percent following persistent underperformance in Australia. Intensifying competition from Chinese automakers and a rapid shift to electric vehicles caused regional volumes to drop sharply, sending company shares down 11.7 percent.
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INCHCAPE PLC cut its annual adjusted operating margin forecast to about 5.5% on Thursday morning, driven by underperformance in Australia and rising competition from China automakers. The reduction follows a previous target of 6% issued for 2026. Shares of the company fell 11.7% in early trade, making it the top loser among United Kingdom stocks.
