THE CATS Group of Companies, better known in the local automotive world as the distributor for premium luxury automotive brands Mercedes-Benz, Jaguar and Land Rover, Chrysler, Jeep, Dodge, and Ram as well as Harley Davidson Motorcycles has announced in a press conference today, a joint venture with Inchcape Plc, a leading global, independent multi-brand automotive distributor.
“The Philippines is a fast-growing market with an increasing demand for the luxury vehicles we provide, and we look forward to leveraging Inchcape’s leadership in digital and data to further build our distinctive market position through the provision of best in class customer service,” Felix R. Ang, CATS Group of Companies founder said.
Inchcape will power CATS to the next step in its journey, bringing global scale across more than 40 markets, leadership in digital and data, and EV expertise to the fast-growing and dynamic Philippine market where automotive sales are forecast to grow to 500,000 by 2026 with the luxury market expected to grow at an even stronger rate.
“We are very pleased to be entering the new and strategically important market of the Philippines through the acquisition of a controlling stake in CATS’ Philippine operations. As the leading luxury vehicle distributor in the market, CATS has excellent OEM relationships, and we look forward to working with them and the Ang family to drive the business forward,” Ruslan Kinebas, Inchcape’s APAC CEO commented.
The deal is expected to close in H2 2023 with CATS’ founding Ang family retaining the remaining 40 percent of the company and continuing to be represented on the Board by Felix Ang, and the management team.
Founded by Ang in 1989 as a car accessories, tires, and service center business, CATS has grown to become the leader in premium vehicle distribution and biggest one-stop shop luxury passenger vehicle center in the country with a core purpose and mission to fulfill the aspirations of its customers to own the car of their dreams.
The joint venture with CATS is a great example of Inchcape’s “Accelerate Strategy” in action, delivering on the Group’s ambition to expand its existing global footprint and presence in Asia and other underpenetrated markets while becoming the undisputed number one distribution partner for automotive manufacturers and the employer of choice for current and future employees.
“After over 30 successful years of operating independently, we believe the time is now right for CATS to take the next step in our growth journey and in Inchcape we have found the right partner to drive us forward,” Ang concluded.
