Motorpoint Posts £1.3bn Turnover as Iran Oil Shock Doubles UK EV Sales
Updated
Updated · OilPrice.com · Jun 11
Motorpoint Posts £1.3bn Turnover as Iran Oil Shock Doubles UK EV Sales
3 articles · Updated · OilPrice.com · Jun 11
Summary
Motorpoint said EV sales volumes have more than doubled in recent months, with buyers switching away from petrol and diesel cars as oil prices surged after the Iran war.
The used-car retailer said that demand shift helped lift annual turnover 8.1% to £1.3 billion and nearly double pre-tax profit to £7.5 million in the year ended March.
Mark Carpenter said the company cannot keep up with EV demand and is buying heavily to replenish stock, calling the oil-price shock a UK EV “watershed moment.”
Chinese brands are helping drive the shift: BYD sales have overtaken Land Rover, MG has passed Mercedes, and the Jaecoo 7 was the UK’s best-selling car in March.
Motorpoint raised its final dividend 20% to 1.2p, plans nine new sites starting with Leeds this summer, and said AI and data analytics have also boosted profitability.
As Chinese brands conquer UK roads, can traditional European automakers survive the escalating EV price war?
Is the UK's open-door policy on Chinese EVs a smart economic move or a major national security gamble?
UK EV Market Hits 25% of New Car Sales: Motorpoint’s Strategic Response and Expansion Plans for 2026-2027
Overview
Recent geopolitical tensions, especially disruptions in the Strait of Hormuz, have caused major volatility in global energy markets and driven up fuel prices. This has led to a surge in electric vehicle (EV) interest and sales across the UK and Europe, as consumers seek more predictable and lower transportation costs. Many people have seen their weekly expenses drop dramatically by switching to EVs, especially when using home solar panels. As demand for EVs grows, companies like Motorpoint are responding with new strategies, such as battery health certification and expanded sourcing, to build consumer confidence and capitalize on the accelerating shift toward electric mobility.