Used EV margin potential comparable to ICE equivalents: Dealer Auction

Competition for used hybrids and EVs listed on Dealer Auction surged in June, indicating strong dealer demand for Alternative Fuel Vehicles (AFVs) even though supply is constrained.

According to the digital platform’s new EV Performance Review, trade-to-trade transactions thrived throughout the month despite a reduction in the overall volume of these vehicle types compared to May.

Listings for EVs decreased by 29% and hybrids by 11%, yet bids per vehicle rose by 13%. The proportion of EVs sold increased by 32% from May, while hybrid vehicles sustained their previous level of interest.

Kieran TeeBoon, Dealer Auction marketplace director, commented, “We observed a significant decline in the number of hybrid and electric vehicles listed in June, but there was a notable increase in bids for the available vehicles, resulting in more EVs sold. This clearly indicates that dealers are eager to stock these vehicles and are willing to compete for them.”

“It’s too early to draw definitive conclusions about the fluctuations in the used EV market, but I speculate that dealers are increasingly retaining these vehicles for retail on their own lots.