Surge in AFV listings on Dealer Auction, Lexus leads margins

May saw a notable 16% increase in trade-to-trade listings of EVs and hybrids on Dealer Auction, indicating a buoyant late spring market for Alternatively Fuelled Vehicles (AFVs).

According to Dealer Auction’s EV Performance Review (EVPR), AFVs also saw a 15% increase in bids and a 19% rise in volume sold during May.

Kieran TeeBoon, Dealer Auction’s marketplace director, commented: “The rise in bids, listings, and vehicles sold demonstrates the growing prominence of AFVs in dealership inventories. Though they still constitute a smaller portion of the overall UK car parc, it will be interesting to see if this upward trend continues throughout the year.”

The EVPR for May highlighted the Lexus NX as the top performer in terms of retail margins, with an average margin of £3,930, displacing the Lexus RX, which had led from January to April but fell to third place in May.

Top Five Models by Gross Margin for May

The marketplace’s AFV list remains predominantly hybrid, reflecting strong public demand. The Nissan Leaf, a best-selling EV in the UK, is the only electric vehicle making it into the rankings for margin, CAP performance, and volume sold.

Additional statistics from Dealer Auction include a 14% increase in the average sold price of AFVs and a 12.5% rise in the average retail margin to £3,061. There has been a slight decrease in sales of diesel (-0.82%) and petrol vehicles (-0.16%), with a corresponding near match increase in hybrid sales (0.78%).

TeeBoon suggests that the current dominance of hybrids will persist: "Hybrids and EVs, while still a small market segment, offer significant profit potential. The slight increase in the age of listed models indicates that dealers might be retaining younger models from part exchanges longer instead of quickly selling them."

He advised dealers to stay informed through the EVPR: “Our EVPR highlights trends that can guide dealers in navigating the EV and hybrid market effectively.”

Overall, May’s figures indicate a robust market for AFVs, with hybrids continuing to dominate but EVs like the Nissan Leaf making significant inroads.