‘Buoyant’ used car sector sees surge in Smart Repair revenues

Smart Repairs.co.uk  is forecasting a 25% hike in turnover this year to hit £9.5m.

The group has committed to 15 new vans early next year, an investment of £800,000. This year the company bought 21 vans and invested £1.2m in vans and equipment.

During the past year Leeds bases Smart Repairs has diversified, increasing its customer portfolio to fleet management companies and adding more dealer groups and insurers.

Managing director Darryl Short said: “Since 2019, we have achieved sustained growth across the UK, disrupting the fragmented cosmetic vehicle repair sector, creating over 110 new jobs, buying brand-new premises in Leeds and working closely and rewarding our mobile technicians all over the country.

“We expect to employ 140 within three years, with turnover rocketing to £12m. This increase is totally sustainable as we steadily grow our share of the cosmetic vehicle repair market year on year. Currently we carry out 165,000 vehicle repairs a year.

“We truly operate nationally now.  We are really gaining a foothold in the South West and this has been our fastest growing area. Meanwhile the business has continued to grow in the North West, North East, Thames Valley and Scotland. In 2024 we will focus on expanding our reach in all areas as the demand for our national coverage continues.”

Co-chairman Phil Newstead said: “Our expansion plans, which have gathered pace post-Covid, are very carefully targeted at geographical areas which are not especially well served by cosmetic vehicle repair companies. These plans have been massively backed up by the talented and hard-working team leaders and technicians we have been able to hire.”

“The second-hand car market remains buoyant, despite the cost-of-living crisis and the current economic uncertainty. The supply of new cars is also starting to normalise and this will have a further positive impact on our business. The outlook for the sector is positive and we have every reason to be confident about the future, though we will never be complacent.”

Pictured founder and co-chairman Dan Besau and Co-chairman Phil Newstead