8:24 am, September 18, 2024
The Land Rover Discovery Sport was the used car which made dealers the most money in August, according to new data from Dealer Auction.
The trade site has revealed its latest Retail Margin Monitor, covering the eighth month of the year, with the Discovery Sport retaining the top spot it has held since March.
According to the data, the model had an average retail margin of £3,775 in August, with experts describing the SUV as a ‘truly formidable offering’ for dealers.
Elsewhere, it was also the fastest-selling used car for the second month in a row, taking an average of just 27 days to leave the forecourts.
That figure is just four short of the fastest ever days-to-sell result to be recorded by Dealer Auction, which was the 23 days achieved by the Mazda CX-5 in May 2023.
Reacting to the result, Kieran TeeBoon, marketplace director at Dealer Auction, said: ‘The Land Rover Discovery Sport is a truly formidable offering, with consumers continuing to be drawn to the all-round experience offered by this luxury SUV.
‘We’re seeing many pricing strategies being guided by these strong profit pockets, so the data for the Discovery Sport is definitely something for dealers to take note of.’
August was another successful month for Land Rover dealers, with the Range Rover Evoque coming second in the charts, with an average retail margin of £3,675, in a top 10 dominated by premium models.
On a brand level, Land Rover drew the highest average profit (£3,800) once again, followed by BMW (£2,975) and Jaguar (£2,950).
It was also a good month to be selling Volkswagen’s, with the German brand securing eighth place thanks to its highest ever average margin of £2,300.
TeeBoon added: ‘It is clear that dealers are using data and insights to explore all avenues of profit, reflected in the strong levels of engagement we’ve seen this month.
‘As we enter Q4 – historically a challenging quarter for the industry – these unique opportunities for profit could make all the difference for vendors.’
After analysing the data, Auto Trader said that the result showed how the the used car market retained its momentum over the summer, despite multiple distractions for customers.
In response to the findings, Richard Walker, director of data and insights at Auto Trader, said: ‘We are well into latter half of 2024 now, and despite plenty of distractions – from the election to the Olympics – the used car market has maintained its momentum.
‘Demand is robust, but the market remains heavily nuanced, but as we continue to see in the Retail Margin Monitor, along with our own data, there are plenty of pockets of profit potential if you take a data-based approach.’
