Automotive passion was in full throttle this quarter, with the thrill of the F1 season racing toward its conclusion and the nostalgia of the Goodwood Revival. But when it comes to the used car market, what does the latest Dealer Auction data reveal about dealer behaviour? Let’s take a closer look.
Alerts in overdrive!
Q3 saw positive moves on the platform, with vehicles selling quicker and an uplift in the total number of bids – no doubt boosted by the number of alerts flying out! We saw a 23% increase in alerts sent in Q3. We always say that snapping up the car stock you need can be a game of speed, and these 3.2 million alerts will help make finding the vehicles you need a piece of cake.
Although there was a fall in the number of auctions ending and average sold price, this was anticipated given the traditionally slower time of year for the trade. Our CAP clean performance remained solid in Q3, rising to 102% – underlining how we continue to deliver strong performance for dealers.
Profit up, confidence high!
The total retail value of vehicles sold vs Q2 dropped slightly, despite the stock being of comparable age and mileage. But the total estimated trade profit generated for sellers rocketed, rising from £2.6 million to £3.5 million. Interestingly, looking further back to Q3 in 2023, which had an estimated seller trade profit of £2.7 million, it’s clear that profits are really hitting their stride!
The devil’s in the detail
While consumer demand is a key driver, digging deeper into the data reveals other incentives to stock up on certain models. The Vauxhall Mokka once again topped the league table for CAP clean performance – although this quarter, the rest of the top 5 is in hot pursuit. And the Land Rover Discovery Sport and Renault Captur entered the fray this month.
For regular readers, the usual suspects made up the retail margin chart, with the Discovery Sport and Range Rover providing ample opportunities for solid profit. This quarter saw one new entry: the Mercedes-Benz E-Class, which leapfrogged the C-Class to take the fourth spot. These healthy margins show there are plenty of pockets of profit potential if you take a data-based approach to find the models buyers are prepared to pay a premium for.
Steady as it goes
The odometer stayed steady in Q3, with the average mileage being almost the same as Q2’s data. The average age of vehicle sold dipped slightly from 9.2 years to 9 years.
It was a similar picture for the fuel-type breakdown, with the percentage of petrol and electric staying consistent. Diesel lost a slim margin (falling from 43% to 40.74%) to hybrid (rising from 3.2% to 4.06%) – one to watch as the year comes to a close!
There was more déjà vu for the top three colours, which were unchanged, and the most common buyer fee, which remained similar at £125.
The need for speed
One of the standout stats from our latest delve into the data is the alerts. Trawling through listings can really eat up your time, so make use of advanced filters to refine your search queries on the spot and alerts let you know as soon as a match hits the platform.
As we enter Q4 – historically a challenging quarter for the industry – it’s reassuring to see a healthy appetite for used vehicles. At Dealer Auction, we’re here to help you make informed, strategic purchases that will keep your forecourt fresh and profitable.
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