AGNEW Group is pumping £3.5 million into a 23,000sq ft body shop, valet and vehicle preparation centre and a further £3 million in its electric vehicle (EV) charging network
It comes as the dealership, which operations from 15 locations across the north, revealed in its 2020 financial results that it outperformed the rest of the UK market.
The expansion of Agnew's body shop and vehicle preparation centre at the rear of its Titanic Quarter complex will lead to the creation of 10 jobs.
The investment will support the reconditioning and improved turnaround of used car preparation. It will also facilitate a photographic turntable area, additional tyre bays and a full alloy wheel refurbishment plant to support both customer and internal demand.
Latest accounts show that Agnew Group posted an 18 per cent rise in pre-tax profits to £15.3m last year, despite enforced closures during the pandemic. It came on overall group revenues which fell back 12 per cent on the previous year to £437m.
Group managing director Yuile Magee said: "Agnew Group registrations outperformed both the Northern Ireland and UK market trend, accounting for 22 per cent of all NI registrations - up from 20 per cent in 2019.
"Efficiencies and learnings from forced closures in 2020 have been integrated into our current business model to enhance agility. This also includes our new investment in a 23,000 sq ft body shop, valet and vehicle preparation centre at our Titanic Quarter complex.
To further support its growth this year, Agnew Group will also play an influential role in the electric vehicle charging infrastructure as electric and hybrid car sales continue to rise.
Mr Magee added: "The electric and hybrid vehicle market will consistently grow in years to come and in line with the Government's net zero emissions target 2050.
"As a retailer holding 22 per cent of the local market, we have an invaluable insight into customer demands, customer behaviour and trends within the entire vehicle retail industry and we look forward to sharing that knowledge with the Executive as part of our relationship through the National Federation of Car Dealers Association."
