Car dealership targeting overseas growth after multimillion-pound investment
Blackburn-based Hippo Motor Group is again accelerating its growth plans after investing £4m to expand its showroom with the support of Lloyds Bank Commercial Banking.
The firm completed work on the 10,000 sq ft extension in November last year and has since been busy working to double the number of staff within its sales department.
Building on its success at home, the firm is also investing in its new sister company, Sterling Automotive Design, to target growth further afield by also launching aftermarket vehicle kits to both UK and overseas markets.
The motor dealer will begin exporting the bespoke kits to customers in the US, Canada and Dubai later this year.
The venture is the latest in a number for the firm, which also recently launched its Hippo Flexi-Lease service to its UK customer base.
The flexible leasing plan will allow customers to adopt a US-style vehicle subscription service, signing up to a three-month rolling contract with the ability to change vehicles regularly.
The funding also marks the second time in less than three years that the company has invested in its facilities.
Hippo Motor Group previously invested more than £3m in a new 38,000 sq ft preparation centre in 2018.
The expansion has not only enabled the firm to increase the number of vehicles it is able to store on site at any time, but the investment in state-of-the-art machinery has also helped to ensure that every vehicle is produced to the highest standards.
Supported by Lloyds Bank, the business has grown its employee base from 145 to 235 since 2018 and is now on track to sells more thn 7,500 vehicles every year.
Tom Preston, managing director, said: “The recent investment in our premises has significantly enhanced our capacity to meet demand and continue growing.
“The success we’ve had in recent years has been beyond all expectation and it’s right that we continue to build on that momentum by investing further in new property, vehicles, staff and now expanding our operations overseas through Sterling Automotive Design.
“The team at Lloyds Bank has been incredibly supportive throughout this process, giving us the confidence to continue investing and innovating to help realise our ambitions and become pioneers in the industry.”
John Csizmadia, relationship director at Lloyds Bank Commercial Banking, said: “Hippo Motor Group is an example of a dynamic business that simply refuses to stand still.
“Thanks to the ambition and drive of the management team, the firm has cultivated a trusted and successful brand that will ensure it continues to prosper with each new venture.
“We’re proud to support businesses like Hippo Motor Group as they invest in their continued growth strategy and will be by the side of businesses across the North West as part of our commitment to helping Britain prosper.”
