2008 sales were the best in the company’s 10 year history. It sold 35,000 vehicles, representing a 6 per cent increase.
What’s more, it expects UK car sales to hold up this year, too: ‘The company believes 2009 will be another year of continued growth… in spite of the current economic downturn.’
David Shelton, MD of Motorpoint, said: ‘We are extremely optimistic about car sales nationwide in 2009.
‘It is a difficult time for retailers in general, but as our results have demonstrated, there continues to remain huge demand for new and nearly new cars at exceptionally low prices.
‘We don’t see anything changing in the foreseeable future.’
The company boasts that key to its success is its independent business model. This is not reliant on control by manufacturers and their dealer networks, ‘transforming car retailing in the UK’.
Motorpoint also says that demand for finance has continued to rise. Its PCP scheme is proving particularly popular, accounting for an amazing 85 per cent of sales. This is up from 69 per cent the year before.
Motorpoint predicts that this figure will climb even further next year, as more motorists look to reduce their household costs as a result of the credit crunch. In-house finance arm Blackhorse funds 1 in 5 finance deals.
Sales of traditional HP fell by 17 per cent.
Analysing which brands are most popular, Motorpoint reveals that Ford has retained its number 1 position. It also says that petrol sales outstrip diesels, by almost 2 to 1. The company reports feedback of falling petrol pump prices as the reason.
Top 10 selling brands at Motorpoint