11:32 am, October 23, 2024
Motorpoint has added to its network of used car supermarkets with the acquisition of a former CarStore site in Norwich.
Car Dealer reported back in April that American giant Lithia Motors was axing all CarStore sites, following its deal to buy Pendragon.
The Norwich site, on Turnpike Close, has now been snapped up by Motorpoint, becoming the firm’s 21st retail location when it opens in mid-December.
The deal strengthens Motorpoint’s presence in the east of England, joining its existing Ipswich site, which opened in May 2023.
The new store will be able to accommodate over 220 nearly new and used cars from over 30 manufacturers, all available to drive away the same day.
As part of Motorpoint’s multi-million-pound investment in the region, the new Norwich store will create 25 new jobs.
Discussing the new store opening and Motorpoint’s decision to expand its regional presence, Mark Carpenter, Motorpoint Group CEO, said: ‘We are excited to be expanding our retail network and opening our 21st store this December.
‘As the car buyers’ champion, we’re proud to offer our customers an unrivalled choice of vehicles at unbeatable prices and can’t wait to give even more motorists the chance to find their next car with Motorpoint.
‘With the success of our Ipswich and Peterborough stores, we knew we wanted to expand our presence in East Anglia, so bringing the Motorpoint brand to Norwich was an obvious choice.
‘Once the store opens, we’ll have fantastic coverage in the region – meaning car buyers across the East of England will be within easy driving distance of a Motorpoint store.’
The announcement follows a solid first half of the year for Motorpoint, with the used car retailer announcing a 17% increase in sales volumes and pre-tax profit of around £2m for the six months ending on September 30.
The achievement marked a return to profitability for the group, which lost £3.7m loss in the same period last year.
