7:58 am, June 16, 2024
Trade-to-trade listings of used EVs and hybrids on Dealer Auction showed Lexus securing two of the top five positions for margins last month.
The digital marketplace said its latest EV Performance Review (EVPR) highlighted a busy late spring market for alternatively duelled vehicles (AFVs).
Marketplace director Kieran TeeBoon said: ‘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.’
Dealer Auction’s AFV list was dominated by hybrids, reflecting public demand, with the Lexus NX, pictured above, heading its top five AFV gross margin list with a figure of £3,930.
Lexus’s RX stablemate, meanwhile, was third with a £3,050 gross margin.
The Nissan Leaf, which remains one of the best-selling new EVs on the UK market, came fifth and, said Dealer Auction, was the only EV to feature anywhere in the rankings for margin, Cap performance and volume sold.
Other notable statistics recorded by Dealer Auction included a 12.5% increase in the average retail margin to £3,061.
TeeBoon said he thought the dominance of hybrids would be a fixture for some time yet.
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.’
Top five AFVs by gross margin for May
1) Lexus NX (hybrid) – £3,930
2) Toyota Rav4 (hybrid) – £3,135
3) Lexus RX (hybrid) – £3,050
4) Volkswagen Golf (hybrid) – £3,017
5) Nissan Leaf (electric) – £2,946
Source: Dealer Auction
