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Motorpoint CEO responds to SMMT data

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Motorpoint CEO responds to SMMT data

Used car sales are showing no signs of slowing down despite the deepening cost-of-living crisis, according to the CEO of Motorpoint – the UK’s largest independent retailer of nearly-new cars

Motorpoint Ceo Smmt

Used car sales are showing no signs of slowing down despite the deepening cost-of-living crisis, according to the CEO of Motorpoint – the UK’s largest independent retailer of nearly-new cars and vans.

Mark Carpenter was speaking as the SMMT (Society of Motor Manufacturers and Traders) released data for August, which showed a 1.2% year-on-year increase in new car registrations.

Now he hopes this upward momentum continues into September as increasing new car registrations will ease overheating in the used and nearly-new car sectors and bring car prices down.

He commented: “It’s terrific to see there was a small growth in new car registrations in August and that supply is beginning to come through to meet the demand we all know is out there.

“However, August is traditionally a very slow month for new car registrations and so it’s likely we’ll see pretty much the same picture of supply struggling to keep pace with demand when we see September’s figures.

“In reality we’ll need the upward momentum to continue in September for the increase to be meaningful.”

Carpenter was also pleased to see the SMMT figures show a huge increase (35.4%) in the number of registrations of battery electric vehicles (BEVs).

He said: “We all know that more and more people are choosing to switch to electric vehicles but there was some uncertainty about whether rising energy prices, which have been in the news so much of late, would have an impact.

“It’s great to see that’s not been the case and the same is true of the nearly-new market where we have continued to see strong growth in volumes despite rising electricity bills.”

Carpenter, who is looking forward to the opening of the new Motorpoint Edinburgh store in the coming weeks, added: “While it’s really pleasing to see customers continuing to buy new and nearly-new vehicles despite all the economic doom and gloom, we’re acutely aware the people are really beginning to feel the financial pinch.

“At Motorpoint we are committed to helping our customers wherever possible and so we have doubled down on our ‘never beaten on price’ promise. We are putting more effort than ever before into making sure we have the right cars in stock at the right prices to make sure car buyers can be assured of getting the best possible value for money in these difficult times.”

Breyten Odendaal

Hello! I am a publisher for 3D Car Shows. Besides cars and automotive news, I am also interested in virtual reality, 3D modeling and animation.

Published : Monday September 5, 2022

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