10:48 am, April 11, 2024
Carwow has revealed which used cars are currently offering dealers the biggest profit potential, with the Lotus Emira coming out on top.
The company has today (Apr 11) published its latest ‘Profit Potential Report’, which looks at what used cars are selling for against their Cap valuations.
The data in the quarterly report found that a total of 13 Emira lots were sold on Carwow in Q1 with an average resale margin of £11,928 vs cap.
The statistics cover all vehicles sold in Carwow sales between January and March, Land Rover proving to be the strongest brand overall.
The British outfit had three entries in the top ten, taking second place with the Range Rover Sport (2022), which had an average profit margin of £5,785.
There was also room for the Land Rover Discovery (£3,917) and the 2020 edition of the Range Rover Sport (£3,316).
Meanwhile, Land Rover’s stablemate – Jaguar – had one entry on the list with the E-Pace, which delivered a potential profit of £3,337.
Reacting to the results, Sally Foote, Carwow’s chief commercial officer – Sell My Car, said: ‘It’s great to have a sports car top the Q1 list, highlighting the diversity of our available stock.
‘We’re seeing well over 1,000 cars go through our online auctions every day, as well as strong demand from dealers in terms of bids.
‘Although it’s a niche model, dealers have already acquired 13 Lotus Emiras via our auction platform this quarter, with potential profit three times the value of the model in tenth place.
‘Our auctions give dealers access to over 17,000 cars and LCVs from private sellers every month, ensuring they are always able to source high-quality used stock to match consumer demand in their locality.
‘With low buyer fees, no subscription and our recently launched BuySafe promise, we are providing dealers with the very best opportunities to maximise profit.
‘Our innovative new BuySafe scheme allows signed-up dealers to request repairs, should an issue arise, after purchasing via any Carwow auction.
‘This greatly reduces risk to dealers and maximises profit when the car is subsequently sold. It’s the first of many exciting initiatives we have planned this year.’
The full Top 10 can be seen below:
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Lotus Emira: £11,928
2. Range Rover Sport (2022): £5,785
3. Audi Q8: £4,358
4. BMW M4: £4,111
5. Land Rover Discovery: £3,917
6. Audi Q7: £3,848
7. Volkswagen Golf-R: £3,582
8. Ford Mustang: £3,582
9. Jaguar E-Pace: £3,337
10. Range Rover Sport (2020) £3,316
