2021-2022 was Motorpoint's most challenging year, with a £10.4m pre-tax loss and 25% sales drop due to vehicle shortage and declining demand.
Used car supermarket Motorpoint reported its "most difficult" year in the company's history, facing a pre-tax loss of £10.4m for the financial year ending March 31, compared to £300k losses in the previous year. The company's sales fell by 25% to £1.09bn, with a shortage of second-hand vehicles and declining demand blamed for the increase in losses. Despite a challenging period, CEO Mark Carpenter noted a positive start to the new financial year.
June 13, 2024
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