11:50 am, August 4, 2025
Motorpoint has reported that the ‘positive momentum’ seen in its 2024 results has continued in the first quarter of this year.
The used car supermarket group performed a sharp U-turn, returning to the black after suffering eye-watering losses and its ‘most difficult year ever’ in 2023.
It saw profit swing from a £10.4m loss in 2023 to £4.1m in the black, with earnings soaring by £86.5m to £1.17bn.
In a trading update for Q1, the Derby-based business said retail volume sales grew 10.6% compared to the same period last year.
It added that stock levels improved thanks to its focus on a ‘data-led approach’, while there was also an increase in vehicle buying activity.
Metal margin performance also continued to be ‘strong’ during the first quarter.
In the update, the business said: ‘The board is pleased to report that the positive momentum, as outlined in the Final Results on June 12, 2025, has continued.’
It added: ‘The board remains confident that the group will achieve its expectations for the full year.
‘Good progress continues to the be made on the share buyback programme which was announced in early April 2025.
‘Approximately 1.9m of the planned 3.0m shares have been bought back and cancelled at a cash cost of £3.0m.’
Motorpoint also confirmed that it will provide a full half-year update in October.
