AM Online

Motorpoint to open eight-acre used car preparation centre in Motherwell

Mark Carpenter, managing director of Motorpoint

Motorpoint has revealed its plan to create an eight-acre used car preparation centre in Motherwell as part of its "ambitious" growth plans in Scotland – creating around a dozen new jobs.

The car supermarket PLC is currently recruiting for technicians, yard assistants and preparation centre supervisors to work at the new facility, which is scheduled to open in August.

Motorpoint said that the new preparation centre, on Wilsons Road, Motherwell, will accommodate the majority of its existing preparation team in Glasgow and will have capacity to process over 20,000 vehicles per year.

Details of the project come after the business revealed an ambitious new “medium term plan” which aims to almost treble its revenues to £2bn through an acceleration of its online retail offering and the addition of 12 new sales and collection branches to its recently expanded 14-site network.

Motorpoint said that it has “ambitious growth plans for the business across Scotland”, in a statement issued today (June 24).

Terry Burns, operations manager at Motorpoint, said: “Motorpoint is rapidly expanding and, to help facilitate this growth in Scotland, we need to fill a number of roles to help support the existing team relocating to our new Northern Vehicle Preparation Centre this summer in Motherwell.

“We are extremely keen to hear from anyone who is looking to make that next step within the automotive sector and at the same time has a real desire to work for a multi-award-winning company that can quite literally help move their career up a gear.”

Once fully operational, Motorpoint said that a 35-strong team at the Vehicle Preparation Centre in Motherwell will have the capacity to process up to 20,000 cars and light commercial vehicles per year.

All staff will be based within a 49,000sq-ft central hub, the largest of its kind within Motorpoint.

In its annual financial results for the 12-month period to March 31 – published on June 16 – Motorpoint detailed revenues down 29.1% to £721.4m and a profit before tax down 48.4%, from £18.8m in 2019 to £9.7m as gross margin improved from 7.8% to 8.7%.

Chief executive Mark Carpenter said: “The Group's balance sheet remains robust with no structural debt, and net cash at the year-end increased to £6.0m (FY20: £0.8m). This ensured headroom within both the bank financing and stocking facilities.

“Capital expenditure of £3.6m (FY20: £12.3m) related to the new Stockton on Tees branch, and investment in IT to accelerate our digital investment. Also, a number of branches were refurbished in the year. The sale and leaseback of our Swansea branch was completed in early 2021, realising cash proceeds of £6.1m.

“The Group has exciting plans to significantly increase its rate of growth, with the aim of at least doubling FY20 revenue in the medium term, with an improved margin and strong cash generation as we leverage the operating cost base.”

Click here for used car best practice and procurement insight

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Comment as guest


Login  /  Register

Comments

No comments have been made yet.