Trade-to-trade listings of EVs and hybrids on Dealer Auction jumped by 16% in May, highlighting a busy late spring market for Alternatively Fuelled Vehicles (AFVs).
Dealer Auction’s EV Performance Review (EVPR), a regular appraisal of AFVs on the platform, also shows a 15% increase in AFV bids received and a 19% rise in volume sold.
Dealer Auction’s Marketplace Director, Kieran TeeBoon, said: “It’s interesting to note the monthly rise in bids, listings and vehicles sold as it shows how AFVs are becoming a more prominent part of dealership inventories. Of course, they remain a notably smaller proportion of the overall UK car parc but it will be fascinating to see if that upward trend continues for the rest of the year.”
In last month’s EVPR, which examined the performance of AFVS from January to April versus the previous four months, the Lexus RX proved to be the most rewarding car for used EV dealers when it came to retail margins. However, figures for May show that the RX dropped into third place for the month. Top of the list was the Lexus NX, with a margin of £3,930.
Top Five Make/Model by gross margin for May:
The leading digital marketplace’s AFV list continues to be dominated by hybrid, reflecting public demand. However, there was space on the rundown for the Nissan Leaf, which remains one of the best-selling new EVs on the UK market. Indeed, the Leaf is the only EV to feature anywhere in the rankings for margin, CAP performance and volume sold.
Other notable statistics recorded by Dealer Auction include a sizeable 14% monthly rise in the average sold price of AFVs and a 12.5% increase in the average retail margin to £3,061.
There’s also been a tiny drop in the number of diesel and petrol vehicles being sold on Dealer Auction (-0.82% and -0.16% respectively) alongside a corresponding near match in the number of hybrids (0.78%) sold. There was also a month-on-month rise in the average sold price of AFVS (14%) and a slight increase in the average age of hybrids and EVs listed (5 years).
Kieran TeeBoon thinks the dominance of hybrid will be a fixture for some time to come.
He added: “Hybrids and EVs may represent a small proportion of the market, but dealers know that there is profit to be had in this sector and that certain models are a potential gold mine.
“The slight increase in the age of models in May strongly suggests that dealers may be hanging onto younger models they’re getting off customers in part exchanges instead of quickly pushing them into a trade sale.
“My advice to dealers wanting to get the most out of AFVs is to keep a close eye on our EVPR, which throws light on trends that could help you steer a clearer course through the EV and hybrid landscape.”
About Dealer Auction
Dealer Auction is the UK’s leading digital remarketing platform. We give buyers and sellers more choice, better insight and greater margins. Dealer Auction is an independent company, created through a joint venture between Cox Automotive and Auto Trader. For more information, visit www.dealerauction.co.uk.
Launched in May 2024, Dealer Auction’s EV Performance Review (EVPR) is a monthly feature that tracks the performance and trends of EV and Hybrid vehicles on the UK’s leading digital remarketing platform.
