Start your engines – because what a ride 2024 has been! It was a year that saw a new UK government, 65 Olympic medals for Team GB and a lot of Defying Gravity – both at the box office and in outer space.
On the automotive side, we celebrated 30 years of the Festival of Speed, heralded the return of the Capri and saw various industry developments unfold. As challenges like government scrutiny on emissions and new vehicle tax changes made their presence felt, dealers have been seizing the opportunity to replenish their forecourts with quality trade vehicles that will turn a tidy profit.
As a result, our platform was alive with activity in 2024. We welcomed new customers, clocked some big numbers and outperformed 2023. So join us as we lift the hood and uncover what made Dealer Auction customers tick in 2024.
Playing matchmaker
Beep beep! We sent out – wait for it – 11.5 million alerts in 2024, helping match buyers with the vehicles they need. Despite the industry headwinds, dealers weren’t shy about homing in on the vehicles they wanted in order to secure that all-important profit. From late-night leads to midday matches, our alerts helped us clock a whopping 919,164 bids in 2024, a surge partly driven by our continued growth and new customers.
Positive trade-to-trade activity saw the hammer drop on vehicles with an average sold price of £6,378 in 2024. Our average days to sell was just 4, while our impressive 103% average CAP clean performance demonstrated how we continue to deliver strong performance for dealers. That said, one model achieved a jaw-dropping 128% average CAP clean performance – read on to see which!
Millions of millions
We helped dealers find and buy over half a billion pounds worth of cars in 2024 – with a total retail value of over £510 million. This incredible milestone reflects the trust and confidence dealers place in our platform to connect them with the right vehicles at the right time. As a result, the total estimated trade profit generated for sellers hit an impressive nearly £13 million, showcasing the tangible value we bring to our partners.
Electric on the up
Who doesn’t love a seasoned traveller? The vehicles traded on our platform in 2024 were 8.9 years old on average, with an average mileage of 72,598. When it came to fuel-type breakdown, although AFVs (alternatively fuelled vehicles) continued to claim a small percentage, their proportion rose from 3.44% in 2023 to 5.6% in 2024. As in 2023, black, white and grey remained the most popular colours last year. One day we’ll see Fiat’s Lime Green on the list!
Taking a Punt(o)
There’s no grey area when it comes to profit. Despite the Vauxhall Mokka being a top performer during the year, it failed to make the annual top 5 for CAP clean performance. The 2024 totals were good news for dealers who stocked the Fiat Grand Punto and Fiat Punto Evo, with average CAP performances of 128% and 118% respectively.
For keen followers of the Retail Margin Monitor, it won’t be a surprise to see Land Rover topping the make and model profit charts for 2024, with the Discovery achieving an average margin of £5,757. But keep your eyes peeled on this monthly profit monitor in 2025 to see a shift in how we report the data to give you even more actionable insights.
New year, new stocking strategy?
As we move into 2025, could you be missing out on these big numbers? 11.5 million alerts, £510 million retail value and £13 million trade profit are compelling statistics – and by using real-time market data, you can be well-equipped to jump on opportunities.
Although the emphasis of this annual round-up is on Dealer Auction, the larger takeaway is the importance of digital tools in today’s fast-paced automotive market.
Demand is strong and there are plenty of pockets of profit potential if you take a data-based approach to finding the models buyers are prepared to pay a premium for. What’s more, it’s vital to stock up quickly, and at Dealer Auction, you have 24/7 access to ‘buy it now’, timed auctions and the new retail-ready stock via Make Me an Offer, helping you get fresh stock on your forecourt in a matter of days. We’re ready when you are.
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