Motor Trader The award-winning and longest running UK magazine for car retailing professionals. Your first stop for News, Jobs and Reports for the motor industry.
Big Motoring World, the supermarket group led by entrepreneur Peter Waddell, turned in a strong performance in 2022 with pre-tax profits surging 65% to £10.9m on turnover ahead 42.8% to £529.7m.
The company sold 27,000 used cars compared to 22,000 the prior year. It has launched its own used car sourcing platform Big Wants Your Car.
Finance commission turnover rose 71.4% to £18.6m while warranty sales rose 78.9% t £20.6m.
The company said it had out-performed expectations despite the well-chronicled shortage of used car stock due to low new car sales in recent years.
During the year it upgraded its IT system to a cloud based solution and opened a new HQ. Big Motoring World said it had performed strongly in the early months of 2023 with like for like sales up 22% year-on-year.
It opened its fifth site in early 2022 and this year opened its sixth in south west London. Big Motoring World now operates from West Malling in Kent, which stocks 600 cars, Bluebell Hill, Kent, (1,100 cars), Enfield (850 cars) Werrington, Peterborough (500) and Fengate Peterborough (550).
It also has industrial scale vehicle refurbishment centre in Peterborough on a 14-acre site with bodyshop, smart repair, wheel refurbishment and MoT facilities.