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Motorpoint is kick-starting investment in its estate with plans to open new stores. Its 21st store opens in Norwich next month.
The car supermarket announced the move as it confirmed half year results with a return to profitability on reduced sales.
The group turned in pre-tax profits of £2m compared to -£3.7m loss last time on turnover down 7.3% to £563.1m.
It said reduced turnover was attributable to a cheaper model mix and deflation, adding that the supply of new vehicles remains subdued, particularly at newer end of market
Commenting on the motor finance issue, it said whilst the finance commission temporary withdrawal caused short term challenges, no material adverse impact on trading and FY25 profit expectations
Motorpoint CEO Mark Carpenter said: “I am pleased with our solid performance in the first half of FY25, which was marked by a return to profitability following several years of considerable headwinds that have impacted our industry.
Brilliant Basics, our right sizing and margin improvement programme, delivered what it needed to in FY24, ensuring foundations for future growth.
As well as strong year on year volume growth and market outperformance, margins strengthened, and stock turn improved to an industry-leading 41 days in stock.
“Following the challenges faced in recent times, we remain cautious as supply slowly improves and macroeconomic pressures continue to ease, while demonstrating our return to profitability, as we plan courses of action to accelerate this growth.
“In response to higher demand for Motorpoint cars, we have bolstered our team and have the firepower to restart investment in our estate, including the opening of new stores. I am very excited by our plans to unlock further profitable growth, and we are in a strong position to continue increasing our share of the used car market.”