Motorpoint Group has raised its profit outlook following a period of stronger-than-expected trading volumes, the car dealership announced. The company attributes this positive performance to strategic investments in artificial intelligence and a data-driven pricing strategy, alongside a surge in electric vehicle sales.
The firm now anticipates its profit for the fiscal year ending March 2027 to fall between £9.8 million and £10.8 million, surpassing initial expectations. Motorpoint cited an "increased confidence in vehicle supply conditions" as a key factor contributing to the revised financial forecast.
In line with its growth strategy, Motorpoint plans to open a new retail site in the spring of 2027, expanding its current network of 22 locations. Shares initially rose 10% on the news but closed the trading day flat at 130p.