Car supermarket chain Motorpoint suffered a swing from £21.5m profits in its 2022 financial year to a £300,000 loss in its 2023 financial year, as it was hit by rising financing costs, stock shortages, depreciating electric vehicles and rising investment requirements.
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The Motorpoint used car supermarket group has revealed record revenues totalling £1.44 billion from its 2022 financial year in a trading update published this morning (April 6).