Motorpoint officially opens the doors to its new used car supermarket site in Edinburgh today (September 30) – its 18th retail location in a growing network.
The facility is the PLC’s second used car supermarket in Scotland – including the Glasgow location upgraded in 2018 – and expands a footprint North of the border, which also includes a recently-created vehicle preparation centre in Motherwell.
An open day event for customers of the new site, located on Baileyfield Road in Edinburgh’s Portobello area, will take place on October 19 and will include live artworks from grime artist Ruddy Muddy, dancers from the Dunedin Dance Academy and a piper.
Back in July AM reported that Motorpoint had added plans for a Coventry used car supermarket sites to its expansion plans for Edinburgh and Milton Keynes after growing its Q1 revenues by over 30%.
The group said in a trading statement at the time said that it remained “encouraged by the pipeline of opportunities to expand our portfolio and thus increase market share”.
Revenues rose to £402 million in the period to March 31 with growth supported by vehicle price inflation, it said.
The result came just weeks after Motorpoint revealed that its profit before tax reached £21.5 million in its financial year ended March 31, 2022, compared to £9.7m in the previous year.
Revenues rose 83% year-on-year from £721.4m to £1.32 billion, from 14 dealerships,
Motorpoint continues to drive ahead with an ambitious a mid-term growth strategy aimed at taking its annual revenues to £2bn with the help of an improved omnichannel car retail offering and the expansion of its physical retail network.