Dealer auctions see rises in EV and hybrid sales

The annual round-up of Dealer Auction’s EV Performance Review (EVPR) has revealed that trade-to-trade sales on Alternatively Fuelled Vehicles (AFVs) increased by 64.9 per cent in 2024 compared with 2023.

The digital marketplace also saw an increase in interest in hybrid and electric vehicles. 51,259 bids and 204,058 advertisement views were recorded for hybrid and electric vehicles, which is a year-on-year increase of 25.83 percent and 16.6 per cent respectively.

AFVs still only represent 5.6 per cent of the Dealer Auction market, but this data illustrates that more and more dealers are wiling to harvest the potential of these models. The proportion of electric vehicles (EVs) doubled from 0.43 to 0.88 per cent in 2024, while the proportion of diesel models fell by 4.16 per cent during 2024.

Dealer Auction’s marketplace director, Kieran TeeBoon, said: “The EV Performance Review continues to yield intriguing insights about an evolving used market. The data shows strong stats for used AFVs in 2024 versus those traded between dealers 12 months ago.

“The remarkable 64.9 per cent jump in trade-to-trade AFV sales underscores the shift in consumer demand towards hybrid and electric vehicles, showing the opportunities for dealers in 2025. It’s an exciting time for the industry, and we’re proud to be at the forefront of facilitating this transition through our digital platform.”

Hybrids continued to dominate the AFV market as they took up all the spots in the top ten vehicles by CAP performance and top ten by average gross margin.The Nissan LEAF is the only EV to feature anywhere in the rankings, and remains one of the best-selling EVs on the UK market. This data thus suggests that hybrids will continue to outperform EVs for some time to come.

TeeBoon added: “This annual round-up is brilliant indicator of long-term trends, with various models commanding a strong CAP performance and potential margins. That said, for stock-savvy dealers wanting to get the most out of AFVs, it’s important to keep a close eye on the monthly data we release to take advantage of the current trends.

“Overall, 2024 has been a strong year for the used AFV market, reflecting the growing appetite for greener, more sustainable options in the marketplace. With SMMT recently announcing that new EVs took a record annual volume and market share at 19.6 per cent — up by more than a fifth from 2023 — it will be interesting to see how this could filter into the used market in 2025.”