The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Andrew Nussey - Peel Hunt LLP, Research Division - Analyst
: Yes. A question for Duncan, please. I'm just curious whether you think these industry supply issues are likely to change the longer-term behaviors
of OEMs towards independent distributors. I mean I was also guessing, do we think -- or do you think you'll start to see an acceleration towards
using independent distributors. And equally, do you think that could accelerate industry consolidation amongst independent distributors. And I
guess, probably allied to that last point, you've often said it takes 3 to tango, but in terms of your M&A pipeline, is there a difficulty in executing it
because the OEMs are so tied up obviously with their own sort of internal issues around supply?
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OCTOBER 28, 2021 / 7:30AM, INCH.L - Q3 2021 Inchcape PLC Trading Statement Call
Question: Andrew Nussey - Peel Hunt LLP, Research Division - Analyst
: Yes. I'm just curious, when you speak to the guys on the ground, is there a feeling that the fact there is less discounting going on in the market
because of the supply issues. Actually, there's an element of pent-up demand building. So actually, when we do start to see a normalization of
supply, hopefully, at some point in FY '22, actually, there's going to be a strong demand backdrop behind it?
Question: Andrew Nussey - Peel Hunt LLP, Research Division - Analyst
: No, that's useful. Your crystal ball is a little bit better than mine, Duncan.
Question: Paul Rossington - HSBC, Research Division - Analyst
: Well done on the update today. Just again, thinking some more about the wider industry. Can you comment at all if the likes of Cazoo and these
various online platform specializing in used car sales if they are impacting your business at all or how you might be able to take advantage of that
trend as well? I know you talked about the launch of your used car platform in Greece, I think, with Toyota. So anything around that piece would
be useful in terms of market dynamics or opportunity or otherwise.
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