It seems like only yesterday we were reporting that multi-channel retailer Motorpoint Group was set to open its Manchester outlet and was set for a great 2021. Well the news is just in that for the first half of the year the Group has exceeded expectations and revenues in H1grew 57% year-on-year.
This despite operating in a market where sales growth slowed from June onwards due to a reduced vehicle supply.
It is worth noting that the Society of Motor Manufacturers and Traders (SMMT) reported second quarter market growth of 109% year-on-year, but Motorpoint smashed that that with growth of 242%.
It is reported that Motorpoint’s Auction4Cars brand increased its own revenue by 38% against the first half of 2021.
Keep an eye on Motorpoint.