Car sales business sets its sights on £10m turnover in five years

Spencer Flint Automotive, a Yorkshire-based used car sales company launched in June 2021, has reported turnover figures of £2.75m in the nine months it has been trading.

The business was founded by Phil Johnston and Natalie Flint. They said due to the shortage in semiconductor chips needed to manufacture new cars, the used car market has seen a huge surge in demand.

But they noted that with so many options to buy or sell a used car, the market is bigger and more competitive than ever.

Johnston, joint owner, said: “I’ve worked in the automotive industry for almost 20 years’, it is my passion – I literally have petrol running through my veins. In all my years in the industry, I’ve never seen stronger demand for used cars than we are currently experiencing.

“Our biggest competitor is the Internet, the ‘we buy all the cars’ websites. It is so easy nowadays for people to research and gain an online valuation for their vehicle but price chipping is rife and many cars are being over valued online until it is time to have the car physically appraised.

“Many customers end up with a derisory offer which is far lower than was originally expected.

“We are demystifying the industry by offering a reliable, personal service with no hidden costs and we’ve found this has been very well received.”

Flint, joint owner, added: “As a small business, we are in a fortunate position to be able to offer a personal service whereby we can collect cars from client’s homes or offices across the UK, settle finance agreements where applicable and transfer the outstanding balance within five minutes of agreeing a sale with them.”

In the next five years Johnston and Flint estimate a £10m annual turnover for the company, with the rise in used car sales showing no sign of slowing down.

And they expect used electric cars will also start to filter down to the second-hand car market, presenting another opportunity for their company.