The current transformation in the automotive industry is well-documented. However, despite any uncertainty, there’s one thing we know for sure: the used car market is hungry!
Franchise retailers and group buyers therefore have a unique chance to step in to meet the surging consumer demand for quality used electric vehicles (EVs). Here’s how you can ride the EV wave and capitalise on any opportunities.
A not-so-quiet revolution
While manufacturers are going all-in on EVs, mixed messages from the media and government have understandably curbed enthusiasm about the shift, resulting in cautious forecasting and investment in EV stock by retailers.
But the fact is this: EV take-up is on the rise. With our engaged buyer and selling partners, Dealer Auction have a unique vantage point of how the used market is performing, and it’s booming – especially as more and more fleet EVs come off lease.
Trade-to-trade listings of EVs and hybrids on our platform jumped by 16% in May 2024. Our EV Performance Review also shows a 19% rise in the volume of alternatively fuelled vehicles (AFVs) sold. It’s clear that used EVs are a plug-and-play profit opportunity – they’re ready to go. Are you?
How data can help dealers get the edge
While demand, data and instinct have historically been the ultimate triple threat for dealers when it comes to ICE vehicles, group buyers can no longer put so much emphasis on their experience. Instead, it’s important to adopt a data-driven approach to navigating this evolving landscape – keeping your forecourt stocked with just the right options.
At Dealer Auction, we’re proud to be the UKs smartest wholesale marketplace and a popular option with retailers. Not only due to the sheer amount and variety of vehicles we have available, but also because we provide the right amount of insight and data to make quicker, more informed choices.
As the tide changes and auction lists fill with more and more used EVs, we can help dealers tap into this revenue stream.
5 ways Dealer Auction can help you stay ahead
- A world of choice: We aggregate vehicles from various sources, including trade, dealer, fleet, OEM, auction and direct from the consumer. This comprehensive range ensures buyers have access to a wider selection, helping you replenish your forecourt on demand.
- The need for speed: Snapping up the car stock you need can be a game of speed. Advanced filters and stock policy-matching features streamline the search process, notifying buyers as soon as new vehicles hit the platform. We sent more than 2.3 million alerts in Q1 2024 alone! With other buyers receiving instant notifications, could you be missing out on the EV stock you’re looking for?
- The power of profit: Don’t compromise. Identify the best used stock for your forecourts using Auto Trader’s unique market data, consumer demand and historical sales data. This data is available on all our adverts and will help you get more out of the metal when it comes to sourcing stock. If that’s not enough, our standard buyer fees are among the lowest in the industry.
- Cast a wider net: Gone are the days when you’d have to be at an auction house in person to grab the vehicle you want. Digital auctions allow buyers to participate in multiple auctions simultaneously, facilitating a broader selection, swift sales and improved performance for group buyers compared to traditional routes.
- Buy with confidence: By leveraging Dealer Auction’s technology and data, franchise retailers can make more informed buying decisions, ensuring their inventories meet the market’s evolving demands. We use Auto Trader’s Retail Rating on all our listings to help you concentrate your efforts on the right stock for your area and help price them correctly for retail with the national market summary.
Knowledge is (electric) power
But it’s not just about aligning your inventory and pricing with demand, it’s also about getting to grips with consumers’ wants and needs. What are their main reasons for going electric? Is there an emission zone near your dealership? What service plan would suit them? Arming yourself with this knowledge will help you feel more confident about selling EVs – and buying the right stock.
Reticence is a risky business – although many dealers have been keen to see how electric will play out, the shift to electric is happening now. What once was seen as sticking your head above the parapet is now a confident stride into the future of automotive. Don’t get left behind!
Plug in…and profit!
As the industry continues to change rapidly, and with a government-mandated switch to BEVs, there simply won’t be enough used ICE vehicles in the market five years down the line. Retailers who stay ahead of the curve will be in the best position to take advantage of the new opportunities presented by the electric revolution.
Partner with us to experience a proven, efficient route to high-quality EV stock. Enjoy a smoother, more profitable acquisition, keeping you at the forefront of this electrifying market shift.
