Dealer Auction sees 30% jump in EV and hybrid listings

Trade-to-trade listings of electric and hybrid vehicles have jumped by 30% this year, according to new data from Dealer Auction.

The company’s EV Performance Review (EVPR) also shows that the number of alternative fuelled vehicles (AFVs) sold has increased by 47%.

The numbers compare the period January to April versus the previous full four months.

Kieran TeeBoon, Dealer Auction’s marketplace director, said: “The EVPR is a monthly temperature check of EVs and hybrids on our platform that is already yielding fascinating data about a changing used market.

“This year thus far has already seen a notable leap in AFVs sold and it will be interesting to see how the year plays out.

“This alone tells us that, even though they represent a small proportion, compared to ICE, they are figuring in the plans of more and more dealers. That will only increase as AFVs ultimately become a bigger part of the overall car parc picture.”

While combined AFV listings and sales increased during the period, the number of hybrid listings has dropped by 7%; however, the amount sold rose by 22%.

Year-to-date bidding activity tells an intriguing story, too.

Ad views for EVs and hybrids were up 11%, while bids received shot up by more than 15%. 

When seen against a backdrop of reduced hybrid listings, the search increase demonstrates an evident dealer appetite for hybrids' growing profit potential.

The fuel-type split for the period highlights that EVs have seen small dealer-to-dealer sales increase at just 0.23%, while hybrids equal 0.71%. The number of diesels sold in this period dropped by 2.4%.

TeeBoon said: “The slide in the number of diesel vehicles sold is notable and reflects their obliteration from the new car market.

“But despite falling out of favour in urban areas, used diesel retains a loyal following outside of cities and with people covering huge mileages or where towing is essential. Competition for this stock will likely intensify as volumes wane.”

The average sold price of EVs and hybrids on Dealer Auction between 1st January and 30th April dropped by 4.5% (£13,609).

Their average age increased by 11% (or nearly five years), while the average mileage climbed by more than 3% to 40,315 miles.

TeeBoon added: “The profile of the EVs and hybrids we’ve seen so far this year makes me wonder if dealers are increasingly hanging on to any younger models traded in instead of pushing them out for a trade sale.

“Used EVs, in particular, represent great value versus their new price while hybrids are the natural replacement for buyers not ready to jump fully into electric, and this could be influencing stock decisions.”

The Lexus UX hybrid is the best-performing AFV on Dealer Auction so far this year. On average, the luxury compact SUV has had a CAP performance of 119%, a days-to-sell figure of 45, and an AT Retail Rating of 51.