8:23 am, August 16, 2024
The Land Rover Discovery Sport has once again topped Dealer Auction’s chart for turning the most profit for used car dealers.
Not only that, but the luxury SUV also proved to be the quickest off forecourts last month, according to the automotive digital wholesale marketplace.
Dealer Auction’s Retail Margin Monitor for July shows the Discovery Sport gave retailers an average margin of £3,525, as well as selling in 26 days on average – eight days quicker than its average for the first half of 2024.
That was close to the all-time top 10 record, held by the Mazda CX-5, which sold in 23 days in May 2023.
Dealer Auction’s marketplace director, Kieran TeeBoon, said: ‘The Discovery Sport might be a consistent top performer in the profit stakes, but historically, it hasn’t been the fastest mover.
‘In our half-year round-up for 2024, its average was 34 days and it has often clocked more than 40 days.
‘So July’s performance is very interesting indeed. The top profit-turner and the fastest seller of the top 10 – talk about doubling your firepower!’
The Mercedes-Benz E-Class was another notable model in July, achieving its highest position and margin – third place with an average retail margin of £3,000, which was hot on the heels of the second-place Land Rover Range Rover Evoque (£3,450).
The Land Rover Freelander 2 also rejoined the chart, making it a triple treat of Land Rover models.
A mainstream entry also caught the eye of Dealer Auction’s analysts, with the Vauxhall Zafira Tourer staking a claim in the top 10 for the first time since September 2022.
Dealer Auction commented that with other family-friendly models such as the Nissan X-Trail, Volkswagen Tiguan and Peugeot 3008 sitting just outside the top 10, it could well point to families and groups needing bigger vehicles for summer holidays.
At brand level, Land Rover drew the highest profit (£3,675) once again, followed by Jaguar (£3,000) and Mercedes-Benz (£2,850).
TeeBoon added: ‘The previous Retail Margin Monitor was the half-year round-up, so this edition is the first opportunity to see how brands are shaping up for the remainder of 2024.
‘The consistent presence of Land Rover, Jaguar and Mercedes-Benz in the top three highlights these brands’ resonance with drivers and shows why savvy dealers are continuing to gravitate towards premium brands.’
Richard Walker, Auto Trader’s data & insights director, said: ‘As always, the Retail Margin Monitor offers invaluable insight into the market, and along with our data, points to a healthy used car market.
‘Demand is strong, cars are selling quickly, and there’s some good margin to be had.
‘Importantly, the underlying fundamentals remain robust, so as we look ahead, there’s certainly room for optimism.
‘On the current trajectory, we expect around a 5% rise in transactions by the end of the year.
‘Using the wealth of available data to help source and set prices will ensure retailers are maximising the potential opportunities.’
Top 10 models by retail margin plus average Auto Trader days to sell and average Auto Trader retail rating (July 2024)
- Land Rover Discovery Sport: £3,525, days to sell – 26, retail rating – 89
- Land Rover Range Rover Evoque: £3,450, days to sell – 36, retail rating – 67
- Mercedes-Benz E-Class: £3,000, days to sell – 42, retail rating – 50
- Volvo XC60: £2,900, days to sell – 37, retail rating – 61
- Mercedes-Benz C-Class: £2,825, days to sell – 44, retail rating – 48
- Mazda CX-5: £2,700, days to sell – 28, retail rating – 86
- Jaguar XF: £2,675, days to sell – 38, retail rating – 59
- Land Rover Freelander 2: £2,650, days to sell – 41, retail rating – 47
- Vauxhall Zafira Tourer: £2,640, days to sell – 34, retail rating – 78
- BMW 3 Series: £2,625, days to sell – 41, retail rating – 55
Source: Dealer Auction
Top 10 brands by retail margin (July 2024)
- Land Rover: £3,675
- Jaguar: £3,000
- Mercedes-Benz: £2,850
- BMW: £2,750
- Volvo: £2,700
- Audi: £2,575
- Volkswagen: £2,225
- Mini: £2,200
- Nissan: £2,185
- Mazda: £2,175
Source: Dealer Auction
