Brayleys Cars has taken on its third Kia dealership, following the acquisition of the former Humphris Oxford Ltd operation, for an undisclosed sum.
The deal sees Brayleys add Mitsubishi to a portfolio which now includes eleven franchised sites representing Honda (3), Mazda (3), Kia (3), Mitsubishi and Renault/Dacia.
A number of alterations are underway at the former Humphris site in Rose Hill, Oxford, including the creation of a used car display area for up to 65 vehicles on the first floor, above the new car showroom.
Brayleys expects to sell more than 1,000 units from the refreshed dealership this year.
Paul Brayley, owner and managing director, Brayleys Cars, said: “It’s been 13 years since Brayleys was established but despite something of a roller-coaster year for the UK both politically and economically in 2016, we exceeded our forecasts in both volume and profitability.
“Our team has delivered beyond budget in all areas of the business, resulting in a record performance, which positions us well for this year.
“With the addition of Oxford, we expect the group’s turnover to exceed £120 million in 2017.”
Brayleys’ achieved a record trading performance in 2016, boosted by the success of its second Kia site, which opened a year ago in Enfield.
As the first Kia dealership to employ the Korean brand’s new Red Box corporate identity in North London, sales comfortably exceeded target for both new and used units.
The group also experienced a significant uplift in trading at its adjacent Honda operation, it said in a statement.
Now among the group’s 200-strong workforce is newly-appointed finance director Richard Lipscombe.
Lipscombe joined following a 15-year tenure at Johnsons Cars, where he was most recently financial controller, dealerships.
Brayley said: “I’m also delighted to welcome Richard Lipscombe, as his experience will help us secure sustained, profitable growth in the years ahead.”
Other senior management changes at Brayleys have involved internal promotions. James Darby assumes the new role of group aftersales director and David Carter and John Jackson take on the new position of franchise directors.
Mark Corr, operations director and Alice Edwards, human resources manager, are the other members of the Brayleys’ board.