City Motor Holdings has opened a new Kia ‘red box’ showroom in Newbury.
The car dealer has invested £3 million in its Kia franchise, which sits alongside its Gowrings Ford, City Peugeot and Autoplaza car supermarket in Newbury.
The addition of Kia takes City Motor Holdings’ portfolio up to 20 dealerships and managing director Steve Hemlock aims to grow the business further.
He claims City Motor Holdings’ Autoplaza site is now the largest motor retailer in Newbury and he intends to replicate the scale with expansions at its other multi-franchise Autoplaza sites in Basingstoke and Reading to become the largest retailer of new and used cars within those areas.
Hemlock said: “We’ve still got a lot of expansion on the cards, all planned for completion by the end of 2016. There will be some revamping of existing premises, and we’re also working on some new ones due to launch soon.
Looking at expansion opportunities
“We will expand with franchises we’re comfortable with in an area we like, and as a financially strong company and with the backing of investment company, RCapital, we’re always looking at other opportunities.”
City Motor Holdings is projecting a turnover in excess of £170 million which could see the business move into the top half of the AM100 franchised dealer groups.
As editor, Tim is responsible for the media content, planning and production of AM's multiple channels (AM print and digital magazines, website, social media and contributing to our events planning). He interviews and writes about as many franchised dealer groups and UK divisions of motor manufacturers as possible, to explore the issues facing UK motor retail and understand what solutions dealers and suppliers are using to overcome these.
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