Spencer Flint Automotive, a Yorkshire-based used car sales company launched in June 2021 has reported turnover figures of £2.75m in the nine months it has been trading.
Founded by Phil Johnston and Natalie Flint, the joint owners spotted a gap in the market for a second-hand car service that offered transparency, trust and convenience to its customers – something the business owners felt was lacking in the industry.
Due to the shortage in semiconductor chips needed to manufacture new cars, the used car market has seen a huge surge in demand. But, with so many options to buy or sell a used car, the market is bigger and more competitive than ever.
Joint owner at Spencer Flint Automotive, Phil Johnston said, “I’ve worked in the automotive industry for almost 20 years’, it is my passion – I literally have petrol running through my veins. In all my years in the industry, I’ve never seen stronger demand for used cars than we are currently experiencing.
“Our biggest competitor is the internet “we buy all the cars” websites. It is so easy nowadays for people to research and gain an online valuation for their vehicle but price chipping is rife and many cars are being over valued online until it is time to have the car physically appraised. Many customers end up with a derisory offer which is far lower than was originally expected.
“We are demystifying the industry by offering a reliable, personal service with no hidden costs and we’ve found this has been very well received. We don’t renegotiate at the point of collection; unless a vehicle has been mis-described to us, what we say is what we pay.”
Natalie Flint, joint owner of Spencer Flint Automotive, added, “Phil is so well-known, respected and trusted within the industry so we were able to build the business quite quickly based on recommendations and referrals. As a small business, we are in a fortunate position to be able to offer a personal service whereby we can collect cars from client’s homes or offices across the UK, settle finance agreements where applicable and transfer the outstanding balance within 5 minutes of agreeing a sale with them.”
In the next 5 years, the power-couple estimate a £10m annual turnover for the company with the rise in used car sales showing no sign of slowing down. Used electric cars will also start to filter down to the second-hand car market which presents another opportunity for the company.
Phil added, “I have been involved in buying and selling many prestigious cars from pretty much every brand including Ferrari, Lamborghini, Aston Martin, Land Rover and Tesla to name but a few. From my experience, it is the transparent service provided that gives clients the confidence to buy and re-buy which is where we add value.”