Batchelors Motor Group is set to open a Mitsubishi dealership and service centre after securing new funding from Lloyds Bank Commercial Banking.
The Ripon-based franchised car retail group will follow the opening of its new Suzuki York showroom at the end of 2018 with the opening of the new site, also on the York Business Park in Nether Poppleton, on February 18.
Around 20 jobs will be created by the £550,000 new development, which was made possible with the help of a loan secured via Lloyds Bank.
Lloyds previously provided working capital support to Batchelors in 2016, when the company set its sights on expanding its portfolio of showrooms.
Tony Denton, managing director at Batchelors Motor Group, said: "York continues to prove an outstanding market for automotive sales, and its proximity to our long-standing home and head-office in Ripon makes it the ideal location for expansion.”
Batchelors’ new York franchises with existing partners Mitsubishi and Suzuki take the company's total brand representation to five showrooms.
The openings are expected to help the group double its turnover to £36m by 2020.
Denton said: "2019 has begun in great fashion, with three major contracts ensuring we've already hit our target of supplying 300 Suzuki fleet units this year.
“Since re-banking with Lloyds Bank in 2016, it has proven to be an instrumental partner in helping us to expand.
“With its help, and through our commitment to customer care, we have every confidence that this latest investment will deliver a sustained contribution to our ambitious growth plan."
Lee Rycraft, relationship director at Lloyds Bank Commercial Banking, said: "It's fantastic to see the group creating more jobs and adding new sites to its portfolio.
“We've been at the side of Batchelors for three years, and our relationship has continued to grow, thanks to a positive and collaborative approach.
“Tony and his team strive to put the client first, which continues to help them deliver their business strategy."