Tag Archives: Motorpoint

Motorpoint issued a profit warning today because of falling used car values and reduced finance commission. The car supermarket said profitability for FY24 is now likely to be £5m-£6m below expectations. The group was also hit by costs associated with the closure and clean-up of its Derby centre by flooding. In 2023 Motorpoint put expansion on hold to focus on ...

High interest rates, poor used car supply and economic headwinds saw used car supermarket chain Motorpoint turn in a loss of -£3.5m in the six months to September 2023 compared to a profit of £2.4m last time on turnover down -22.8% to £607.2m. The business’ unit sales of used cars fell -19.8% to 39,300 in a tight market despite it ...

Motorpoint has partnered with the Retail Trust charity to improve the mental health of its staff. The charity will provide wellbeing services such as counselling, cognitive behavioural therapy and financial aid as well as mental health support for any young people under their care. Retail Trust already works with WH Smith and bp. Staff will also be given access to ...

The Retail Motor Industry Federation (RMI) , the umbrella organisation for franchised dealers (NFDA), independent garages (IGA) and auction houses (NAMA) , has raised doubts on the health of the used car market in the UK. In the strategic report accompanying accounts filed at Companies House it said values were “precariously high”. “The used car market has seen unprecedented growth, ...

Motorpoint Group has put its expansion roll-out programme on hold with a new focus on cash conservation, increasing margins and lowering its cost base. The group today announced losses of £300,000 in the year to March 2023 compared to the £21.5m generated the prior year on turnover up 8.9% to a record £1.4bn. Gross profit fell -19.4% to £85.7m. The ...

Motorpoint has opened its 20th store in Ipswich. Simon Castle, Motorpoint Ipswich’s general sales manager, said: “After months of hard work and preparation we are absolutely thrilled to have finally opened the doors of our fantastic new Motorpoint store and to become the 20th site in the Motorpoint network.” Motorpoint’s sales and service manager, Dean Vinyard, added: “I am super ...

Four teammates from Motorpoint Newport are gearing up for an upcoming Snowdon charity ascent in aid of local mental health charity, Newport Mind. The team comprises sales controller, Mathew Llewellyn, sales executive, Shannen Hemmings, sales executive, Daniel Hopkins and sales manager, Michael Gittings. Together they hope to raise £1,000 to support the work of mental health charity Newport Mind. Jo, ...

Chris Northern, a preparation manager from Motorpoint’s Peterborough store, is taking on a fundraising challenge to cycle 1,000 miles and raise money The Sue Ryder Thorpe Hall Hospice. Northern takes on the John O’Groats to Lands’ End challenge and will ride the route between Great Britain’s most northerly to southerly communities with seven others from the Whittlesea Wheelers Cycling Club. ...

Motorpoint has partnered with Skillnet to develop an apprenticeship programme. Initially, the programme will focus on automotive technician roles, but the ambition is to extend the partnership to include qualifications for team leaders, management trainees, customer service advisors and business administrators. All training will be fully accredited in line with IMI (Institute of Motor Industry) standards, with graduates gaining nationally-recognised ...

Motorpoint is to open a supermarket in Ipswich in May 2023 bringing its UK network to 20 outlets. The Ipswich store opening will strengthen Motorpoint’s footprint in the East of England, where it already operates stores in Peterborough. Motorpoint Ipswich will stock more than 120 nearly new cars and vans in store alongside thousands more online at motorpoint.co.uk. Motorpoint has ...