Jardine Motors Group

Last updated

Jardine Motors Group
Company type Multinational
IndustryVehicle Retailer
ProductsNew Cars, Used Cars, Servicing
Revenue$5.128 Billion
Website www.jardinemotors.co.uk

Jardine Motors Group, is a multi-national operator of franchised motorcar dealerships in the United Kingdom with international outlets in Hong Kong, Macau and China. [1] Jardine Motors Group market their vehicles under a series of brands worldwide including Zung Fu, Lancaster and Scotthall, and the worldwide group net profit, for the year ended 30 April 2012, was US$61 Million, [2] based on revenue of US$5.128 Billion. [3]

Contents

The company is a part of Jardine Matheson and is headquartered at Quarry Bay, Hong Kong. [2]

Jardine Motors UK

Jardine Motors UK was created in 1981 when Jardine Matheson acquired a stake in the East Anglian motor company; Lancaster Group, from its founders Ronald and Nicholas Lancaster. [4]

Jardine Motors UK was at one stage the largest UK automotive group by turnover, [5] but today has fallen behind rivals such as Pendragon [6] and Sytner [6] and is now one of the top 10. In 2014, Jardine Motors UK turned over £1.5 billion [6]

History

Lancaster Group was established in 1969 when Ronald and Nicholas Lancaster took control of a Ford Dealership in Ongar, Essex, where Nick had been working. [7] By 1981 Lancaster were running Mercedes-Benz, Porsche, Ferrari and Volvo dealerships in East Anglia, and Hong Kong-based Jardine Matheson purchased a 76% holding in the company. [4] The company was floated on the stock market as Lancaster plc in 1986. [8] Jardine took total ownership of Lancaster plc in 1992. Nicholas Lancaster left the business to run Malaya Group plc, which would purchase H.R. Owen in 1994. [7]

During the 1990s the company made a series of acquisitions including the purchase of a Land Rover/Rover Dealership in Stratford, London from Malaya Group in 1994, [9] Wiggins BMW Winchester in January 1995, [10] Polar Motors in February 1995, [9] Kent-based Loxley KJ in October 1995, [9] BPW Group in April 1997 [11] and Appleyard Group in October 1997. [12] The merger with Appleyard resulted in Jardine becoming the largest UK dealer group that year. [5]

By the end of 1998, Jardine announced a joint venture with the manufacturer for its Ford dealerships, [13] a venture which by the end of January the following year had purchased Dagenham Motors. [14] In the late 1990s and early 2000s, Jardine struggled to integrate the Appleyard businesses and saw profits slide, [15] [16] but acquisitions soon resumed. Polar Ford purchased three North London dealerships from Stripestar in May 2002 [17] and Alperton Ford in February 2003, [18] before Jardine sold their 51% stake in the joint venture to Ford Retail Group in March 2004. [19]

Jardine posted strong results for 2005 [20] and continued its expansion with new dealership openings such as Lamborghini in Reading [21] and McLaren in One Hyde Park in London [22] and by purchase of existing dealers from others; e.g. Milcars BMW in 2003, [23] Marshall Honda in Reading in 2006, [24] Pilling Land Rover in Welwyn Garden City, [25] Merritts Jaguar in Amersham [26] in 2010, the Wayside Group in 2011 [27] and five Toyota and Lexus sites in 2012. [28] [29]

Today

Jardine Motors UK today have 70 sales and service locations across the UK [30] representing Aston Martin, Audi, BMW, Ferrari, Jaguar, INEOS, Land Rover, Maserati, McLaren, Mercedes-Benz, MINI, Porsche, Smart and Jardine Select. [31]

Although some dealerships historically operated under a variety of brands including Scotthall, Appleyard, Minories, Abridge and Clover Leaf Cars, all dealerships now operate under the Jardine brand.

Zung Fu Company

Zung Fu Company Limited (仁孚行有限公司) was acquired by Jardine's in the 1990s, [32] having originally been established in Hong Kong in the early 1950s. [33]

Hong Kong

Zung Fu brought the first Mercedes-Benz vehicle to Hong Kong in 1954 [34] and opened their first showroom the following year. [33] Since then Zung Fu have operated as the exclusive retailer for the brand in the region. [33]

Zung Fu operations in Hong Kong now include three sales dealerships [35] and six Service Centres [36] representing Mercedes-Benz, Smart [1] and, through Hyundai Hong Kong Co. Ltd; [37] two Hyundai showrooms [38] and a service centre. [39]

Macau

Through Zung Fu Motors (Macau) Ltd. [40] the group operate a Mercedes-Benz showroom [41] and Mercedes-Benz Service Centre, [42] both in Taipa.

China

Zung Fu (China) set up its first repair workshops in mainland China in 1986, [34] at a time when the country was not seen as a market for luxury vehicles and when the operations of foreign companies, such as Zung Fu, were restricted by the government. [34] Building on the existing Mercedes-Benz relationship, an authorised Service Centre was opened in Shenzhen in 1993, [34] but government restrictions still prevented from operating sales dealerships in the country.

China joined the World Trade Organisation in November 2001, [43] one of the conditions of which was that foreign companies would be treated the same as Chinese companies. [43] This paved the way for Zung Fu to open their first sales dealership in Guangzhou in 2001, [34] quickly followed by the first dealership in Sichuan province, located in Chengdu. [34]

As of 2012, Zung Fu Mercedes-Benz operations total fourteen dealerships, ten further showrooms and a service centre, with the group also operating two Smart dealerships. [1] Between 2008 and 2010, Zung Fu's car sales grew from 5,448 to 16,292, and net profit increased by US$19.9 million to US$37.5 million. [44]

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References

  1. 1 2 3 Group Companies - Jardine Motors Archived 25 October 2012 at the Wayback Machine , Jardine Matheson.
  2. 1 2 2012 Group Outline, Jardine Matheson.
  3. ↑ Annual Report 2014 Archived 24 December 2015 at the Wayback Machine , Jardine Matheson.
  4. 1 2 AM100 analysis: Jardine Motors drives ahead with expansion, AM Online.
  5. 1 2 Lancaster Silent on Appleyard Plans Archived 30 September 2014 at the Wayback Machine , MotorTrader.com.
  6. 1 2 3 AM100 2014 Archived 24 December 2015 at the Wayback Machine , AM Online.
  7. 1 2 Lancaster's dream: the Harrods' factor, AM Online.
  8. ↑ Owen Goals Archived 8 February 2013 at archive.today , MotorTrader.com.
  9. 1 2 3 Lancaster Group expands its dealership base in Kent Archived 29 January 2013 at archive.today , MotorTrader.com.
  10. ↑ Lancaster acquires Wiggins, MotorTrader.com.
  11. ↑ Acquisition Ends Appleyard Blight Archived 1 October 2014 at the Wayback Machine , MotorTrader.com.
  12. ↑ Barkas, Eric (1997) Appleyard in the Can for Jardine. Yorkshire Post, 11 October 1997, p. 14
  13. ↑ Barkas, Eric (1998) Ford Poised to Become a Retailer with Jardine-Polar Joint Firm. Yorkshire Post, 1 October 1998, p. 14
  14. ↑ Dagenham Accepts Polar Bid, MotorTrader.com.
  15. ↑ Appleyard Tough Nut for Lancaster, MotorTrader.com.
  16. ↑ Lancaster and Polar Ford cause headaches for Jardine, MotorTrader.com.
  17. ↑ London Ford Dealers Join Polar Expansion, MotorTrader.com.
  18. ↑ Polar Buys Alperton Ford in North West London, MotorTrader.com.
  19. ↑ Ford acquires Polar Motor Group, MotorTrader.com.
  20. ↑ Solid Result from Jardine, MotorTrader.com.
  21. ↑ Super cars on sale in Whitley, Business - GetReading.co.uk
  22. ↑ McLaren to open at One Hyde Park, Jardine Motors UK.
  23. ↑ Elms BMW: the next chapter, Cambridge News Online.
  24. ↑ New Honda dealership in Reading Archived 13 September 2011 at the Wayback Machine , MotorTrader.com.
  25. ↑ Jardine acquires Land Rover site from Piling, MotorTrader.com.
  26. ↑ Jardine acquires Jaguar site from Merritts, MotorTrader.com.
  27. ↑ EMW, Eversheds drive Jardine’s Wayside buy, The Lawyer.
  28. ↑ Jardine Buys Toyota Outlets from Lookers Archived 26 August 2012 at the Wayback Machine , MotorTrader.com.
  29. ↑ Jardine buys Toyota and Lexus Cambridge sites, MotorTrader.com.
  30. ↑ Jardine Motors Dealerships, Jardine Motors UK.
  31. ↑ About Us, Jardine Motors UK.
  32. ↑ Financial Times (1982) Financial Times Survey: Hong Kong XI - Finance - Jardine, Matheson - End of difficult decade. Financial Times, 21 June 1982, p.xi
  33. 1 2 3 About Zung Fu Archived 2 October 2012 at the Wayback Machine , Zung Fu.
  34. 1 2 3 4 5 6 Thistle, Vol 2, 2010, Jardine Matheson.
  35. ↑ Sales Outlet Archived 20 January 2013 at the Wayback Machine , Zung Fu.
  36. ↑ Service Centres Archived 11 March 2013 at the Wayback Machine , Zung Fu.
  37. ↑ Company Profile, Hyundai Hong Kong.
  38. ↑ Showroom, Hyundai Hong Kong.
  39. ↑ Service Center, Hyundai Hong Kong.
  40. ↑ About Zung Fu Archived 28 July 2013 at the Wayback Machine , Zung Fu Macau.
  41. ↑ Sales Outlet Archived 28 July 2013 at the Wayback Machine , Zung Fu Macau.
  42. ↑ Macau Service Centre Archived 4 March 2016 at the Wayback Machine , Zung Fu Macau.
  43. 1 2 WTO Successfully Concludes Negotiations on China's Entry, Press Release, 17 September 2001, World Trade Organization.
  44. ↑ Award Winners - Pride in Performance 2011 Archived 18 November 2012 at the Wayback Machine Jardine Matheson.
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