“Brilliant Basics, our right sizing and margin improvement programme, delivered what it needed to in FY24, ensuring foundations for future growth. I am very excited by our plans to unlock further profitable growth, and we are in a strong position to continue increasing our share of the used car market.”

Mark Carpenter, CEO

Upscaling omnichannel capability

  • Upgrades to website Product Detail Pages (PDPs) and new vehicle imagery – increased views and sessions, and lower bounce rates
  • ‘Saved Search Favourites’ and ‘Recommendations’ functionality introduced and email stock alerts in place for stock that becomes available
  • Record levels of organic traffic, with improvements to site speed, up 43.5% from previous year
  • New merchandising capability enables prominent visibility for overage stock and price reduction banners introduced
  • Redesigned store landing pages allows customers to see locations close to them and showcase their current stock
  • Sale orders from digital leads increased by 10.0% from previous year despite lower overall volumes sold

Customer acquisition and retention

  • 21th store opened in December 2023 (Norwich)
  • Significant investment to relaunch and extend the first Motorpoint store in Derby
  • Improving customer experience with creation of single customer view and CRM platform
  • Customer emails sent up to four times a week, with very low unsubscribe rates
  • Better use of data:
    • Drill down on what customers desire, highlighting the need to increase the affordability of our stock
    • Data led pricing strategy
  • Focus on where each vehicle is in life cycle
  • New warranty product, now offered for a three year period
  • Improvement to online portal experience – reduce waiting time in store

Wholesale and supply expansion

  • Less reliance on stock attracting purchase fees
    • fees per unit dropped from £144 in 2023 to £114 in 2024
  • New A4C customer dashboards – unique personalised ‘central hubs’
  • New automated funding provider options – A4C customers can activate their account in two clicks and proceed to bid and buy
  • Automated A4C customer payments now trigger collection alert and secure code – customers can win auction, pay and collect almost immediately
  • Reinvigorated Sell Your Car processes in the final quarter leading to a strong uplift

Operational efficiency through technology and innovation

  • Continued automation yields further efficiency gains
  • New internal transport partner, improving service on sold cars
  • New open banking solution allows retail customers to pay by bank transfer, reducing card payment fees
  • Digital verification of vehicle mileage to ensure accuracy
  • Improved aftersales capability with planned introduction of MOT bays in selected locations
  • Key partner API enhancements eliminate double key entry and rework
  • Upgraded FAQs page improves customer experience and productivity