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Cartime plans new car supermarket with £10m funding

Bury based used car supermarket Cartime saw pre-tax profits rise 10.2% to £741,882 on turnover up 23.9% to £28.2m in the year to 30 April 2017.

“This is an outstanding result which reflects the continued demand for quality used car and has been further driven by investment in our sales and customer service staff,” it said in results filed at Companies House.

Cartime, which was set up by Matt Kay (pictured) in 2012, is forecasting sales of £34m this financial year and plans to announce a second site in May.

Investment at its Bell Lane site include a new 360o turntable producing 80 photographs and video per vehicle The group now has an average stock level of 700 vehicles, which pass through its 70,000 sq ft Oxford Mill preparation centre.

Kay said: “Having enjoyed year on year growth since our inception in 2012, this year has been about investing back into the business and it’s all helping us get to where we need to be for this next significant stage of our journey.

“We now have £10m funding in place for further stocking, hence why we’re pushing forward with a second and potentially third site.

“With a strong reputation for excellent customer service and value, coupled with a booming used car market in general, it’s a great time to be expanding our capabilities.”

Cartime is rated 41 in the most recent Motor Trader Top 50 Independent Dealers with annual turnover of £21.6m.

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