Former Inchcape UK boss James Brearley joins Scottish dealer chain Peter Vardy Group
- Brearley previously served as CEO at Marshall Motor Holdings
- Peter Vardy is a Motherwell based dealer with 15 outlets across Scotland
- British vehicle registration levels remain 20% lower than before the pandemic
The former chief executive of Inchcape UK has been appointed the new chief operating officer of Scottish car dealership chain Peter Vardy Group.
James Brearley left Inchcape at the end of 2021, after leading the UK company for five years, overseeing a significant restructuring of the business.
His tenure also coincided with the pandemic, which saw sales of the FTSE 250 company plummet as heavy travel restrictions discouraged homebound consumers from buying motorcycles.
Dealer Chain: Peter Vardy Group has 15 outlets across Scotland selling cars from brands such as BMW, Mini, Porsche, Jaguar and Land Rover
But business bounced back healthily during his last year in charge, with pre-tax profits more than doubling to £296m amid a release of pent-up demand and vehicle shortages leading to higher margins.
After leaving the company, Brearley was attached to the position of CEO at Marshall Motor Holdings following the £325 million acquisition by Constellation Automotive Group, the owner of Cinch and Webuyanycar.com.
But instead he has agreed to join Peter Vardy, a Motherwell-based dealer with 15 outlets across Scotland selling cars from brands such as BMW, Mini, Porsche, Jaguar and Land Rover.
Founder Peter Vardy said Brearley’s appointment as chief of operations would help the company “expand significantly” this decade.
He added, “James’ extensive experience in both automotive retail and distribution make him an invaluable addition to our leadership team as we continue our growth plans globally.”
Vardy’s business achieved a record performance in 2021 thanks to higher sales volumes and month-over-month rising used vehicle prices.
That year also saw the company end its 15-year partnership with Vauxhall, rename its used car supermarkets to Peter Vardy CARZ and launch the delivery service CARZ Direct and a new mobility division.
The growth of the mobility segment is a core element of the group’s 2030 strategy, which includes a target to lease 15,000 new vehicles by 2026.
Brearley said: ‘Our industry is undergoing significant change, which will undoubtedly present opportunities as smaller operators try to leave and only the most capable large operators thrive.
“The Peter Vardy Group truly understands retail, has strong financial backing and has embraced technology to drive growth and streamline costs.
“We have an excellent platform for expansion and I look forward to this exciting period ahead.”
Brearley was previously managing director of Stratstone, whose parent company Pendragon spent £506 million in 2005 buying dealer chain Reg Vardy, founded exactly a century ago by Peter Vardy’s grandfather.
His appointment comes as figures from the Society of Motor Manufacturers and Traders showed that the UK new car market recorded its longest period of uninterrupted growth since 2015 in May.
New car sales in Britain are up for ten consecutive months, even though vehicle registrations are more than a fifth lower than before the pandemic.