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Motorpoint will open a supermarket in Ipswich in May 2023 taking its UK network to 20 outlets.
The opening of the Ipswich store will strengthen Motorpoint’s footprint in East England, which already operates a store in Peterborough.
Motorpoint Ipswich will keep more than 120 nearly new cars and vans in store alongside thousands more online at motorpoint.co.uk.
Motorpoint has grown. In the nine months ended 31 December 2022, supermarkets saw their revenue increase by 17% to £1.06 billion but warned that gross profit per unit had been hit by higher financing costs and the decline in the value of electric vehicles.
These factors are likely to impact sales for the “foreseeable future”, he said, adding that they expect to remain profitable for the full year.
The group is making “robust progress” towards meeting its medium-term growth objective of £1 billion in e-commerce sales and over £2 billion in total sales.
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