AGM Statement

Inchcape PLC
15 May 2001


AGM TRADING STATEMENT

In his statement to shareholders at today's Annual General Meeting, Sir John
Egan, Chairman of Inchcape plc, said the company has made a very encouraging
start in the first four months of the year.

In the UK our Retail business has benefited from a return of consumer
confidence resulting in a significant uplift in private retail sales.  Our
Leasing business is benefiting from the stabilisation of three year old used
car prices this year. Overall we expect our UK results to rebound due to these
benefits, the reduced cost of Autobytel UK, and a first time contribution from
Eurofleet with whom a number of joint initiatives are progressing
successfully.

Our Asian businesses are continuing to perform well, particularly Hong Kong
where the taxi market remains strong, and we envisage this will continue for
the full year.  In Australia our Subaru business goes from strength to
strength with margin improvements driving profitability.

To date the Group has returned £26.7m of capital to shareholders by way of a
share buy back programme and still has a further £18.3m to return.  This
programme will have an immediate and favourable impact on the Group's earnings
per share.

As a result of the encouraging start to the year, the anticipated trading
performance for the remainder of this year, and the continued successful
implementation of the Group's strategy, the Board expects that the results for
2001 will be significantly above last year's.


Issued by and                     
enquiries to:              

Hogarth Partnership Limited
John Olsen                  020 7357 9477
Andrew Jaques

Inchcape plc  
Group Communications        020 7546 0022