Jardine Motors Group
| Company type | Division |
|---|---|
| Industry | Automotive retail |
| Predecessor | Lancaster Group |
| Founded | 1981 |
| Founder | Jardine Matheson (acquisition) |
| Headquarters | Quarry Bay , Hong Kong |
Area served | United Kingdom, Hong Kong, Macau, mainland China |
| Products | Automobile sales and services |
| Owner | Jardine Matheson |
| Parent | Jardine Matheson |
Jardine Motors Group operates as a global franchised automobile dealership network headquartered in Quarry Bay, Hong Kong, with significant operations in the United Kingdom, Hong Kong, Macau, and mainland China. The company retails vehicles under several brand names, including Zung Fu, Lancaster, and Scotthall. For the fiscal year ending 30 April 2012, Jardine Motors recorded revenues amounting to US$5.128 billion alongside a net profit of US$61 million.
As a division of Jardine Matheson, Jardine Motors UK was formed in 1981 following Jardine Matheson's acquisition of a controlling interest in the East Anglian Lancaster Group, which was originally established by Ronald and Nicholas Lancaster. Once recognized as the largest automotive group in the UK by revenue, Jardine Motors UK currently ranks within the top ten dealer groups nationwide, achieving a turnover of £1.5 billion in 2014.
Jardine Motors UK
The origins of the Lancaster Group trace back to 1969 with a Ford dealership located in Ongar, Essex. The company quickly broadened its portfolio to include Mercedes-Benz, Porsche, Ferrari, and Volvo franchises throughout East Anglia by 1981. That year, Jardine Matheson acquired a majority 76% shareholding and completed full ownership by 1992. Nicholas Lancaster later exited to lead Malaya Group plc, which subsequently acquired H.R. Owen in 1994.
During the 1990s, Jardine Motors pursued an aggressive acquisition strategy: purchasing Land Rover/Rover Stratford in 1994; Wiggins BMW Winchester and Polar Motors in 1995; Loxley KJ also in 1995; followed by BPW Group and Appleyard Group in 1997. The merger with Appleyard positioned Jardine as the largest automotive dealership group in the UK at that time.
In 1998, Jardine entered into a joint venture with Ford for its dealership operations, acquiring Dagenham Motors by early 1999. Although integration issues with Appleyard led to profit setbacks during the late 1990s and early 2000s, Jardine resumed growth through acquisitions such as Polar Ford's purchase of North London dealerships from Stripestar in 2002 and Alperton Ford in 2003. In 2004, Jardine divested its 51% shareholding in the joint venture to Ford Retail Group.
The year 2005 saw robust financial performance accompanied by strategic expansion through new dealership openings including Lamborghini in Reading and McLaren at One Hyde Park, London. Additional acquisitions included Milcars BMW (2003), Marshall Honda Reading (2006), Pilling Land Rover Welwyn Garden City (date unspecified), Merritts Jaguar Amersham (2010), Wayside Group (2011), and five Toyota and Lexus locations purchased from Lookers in 2012.
Today
Currently, Jardine Motors UK manages 70 sales and service outlets across the United Kingdom representing brands such as Aston Martin, Audi, BMW, Ferrari, Jaguar, INEOS Grenadier, Land Rover, Maserati, McLaren, Mercedes-Benz, MINI, Porsche, Smart, along with their own Jardine Select brand.
Previously some dealerships operated under names like Scotthall, Appleyard, Minories, Abridge, and Clover Leaf Cars; however, all have since been consolidated under the unified Jardine branding.
Zung Fu Company
Zung Fu Company Limited (仁孚行有限公司), initially established in Hong Kong during the early 1950s, was acquired by Jardine’s group during the 1990s.
Hong Kong
Zung Fu introduced the inaugural Mercedes-Benz automobile to the Hong Kong market in 1954, followed by the launch of its first showroom a year afterward. Since then, it has maintained exclusive rights as the sole Mercedes-Benz distributor within the territory.
At present, Zung Fu manages three sales outlets alongside six service centres in Hong Kong, representing both Mercedes-Benz and Smart brands. Moreover, through Hyundai Hong Kong Co. Ltd, it oversees two Hyundai showrooms and an additional service facility.
Macau
Zung Fu Motors (Macau) Ltd. operates a Mercedes-Benz showroom and a service centre situated in Taipa, serving the Macau region.
China
Zung Fu (China) inaugurated its initial repair workshops on the Chinese mainland in 1986, during a time when the luxury car sector was still emerging and foreign enterprises encountered governmental limitations. Capitalizing on its relationship with Mercedes-Benz, Zung Fu established an authorised Service Centre in Shenzhen in 1993; however, sales dealerships remained prohibited at that time.
Following China's entry into the World Trade Organisation in 2001, which required equal treatment for domestic and foreign firms, Zung Fu was able to open its first sales dealership in Guangzhou that same year, subsequently expanding with a dealership in Chengdu, Sichuan province.
By 2012, the company operated fourteen Mercedes-Benz dealerships, ten showrooms, one service centre, and two Smart dealerships. Between 2008 and 2010, vehicle sales increased significantly from 5,448 to 16,292 units, while net profits rose by US$19.9 million to reach US$37.5 million.