Car dealership ‘continuing to perform ahead of market’
Car dealership group Motorpoint has said it is continuing to outperform the market ahead of an AGM later today (27 July).
The Derby-headquartered firm’s chair, John Walden, will tell shareholders that the Group has enjoyed strong demand following a series of branch re-openings.
In a trading update, Motorpoint said its revenue in Q1 FY23 was c.£402m, up by around 30% on Q1 FY22.
The company said its revenue growth had been supported by vehicle price inflation.
It also revealed it is set to open a new branch in Coventry.
The news follows a results announcement last month in which the firm said it had generated revenues of £1.32bn in the year to March 2022 – up £600m on 2021 and £300m higher than 2020.
