Motorpoint has officially opened the doors to its new Portsmouth store following a ceremony undertaken by Portsmouth’s Lord Mayor and Lady Mayoress.
Motorpoint has been expanding. In April it raised £5m from the sale and leaseback of its freehold branch in Stockton on Tees to reinvest in the group. Earlier in the month it opened its 16th store, in Maidstone.
Motorpoint has said that it expects to report revenues of c.£1,320m (FY21: £722m), an increase of c.82% against FY21.
Mark Carpenter, Motorpoint CEO said: We are delighted to have opened our 17th store, in Portsmouth – a vibrant city with a strong maritime heritage.
“We are the UK’s largest independent nearly new car retailer and this new store is an important milestone in our expansion plans across the south of the UK.”
Motorpoint’s Area Sales Manager Rob Jones said: “After weeks of hard work to create our bright new store, it’s great to be able to finally open our doors to the public.”