March 2023 – An EV has topped the Dealer Auction Retail Margin Monitor for the first time. According to data captured by Dealer Auction, used Nissan LEAF models offered dealers the best profit margins in February 2023, highlighting the growing opportunity that electric vehicles represent.
With an average retail margin of £3,750, the UK-built pure-electric compact claimed the number one position in February’s top 10 models, making it the first electric model – and indeed the first non-Land-Rover product – to top the Retail Margin Monitor since the margin tracker’s launch in January 2022.
While there have been other electric models recorded in previous months, such as the Renault Zoe that appeared in January 2022 (£2,540) and February 2022 (£2,400), the LEAF is the first electric vehicle to rank with an average margin of over £3,000 – putting it in good company with previous top-ranking products including Land Rover’s Range Rover Evoque.
Dealer Auction’s Marketplace Director, Kieran TeeBoon, commented: “As only the second Nissan model to enter our top 10 models tables since the launch of our Retail Margin Monitor, the Nissan LEAF entering in first place is unexpected! Not only is it the first time we’re seeing the LEAF, it’s the first time we’ve seen such success for an electric vehicle on our platform. It’s taken a while to see the increasing popularity of new EVs filter down to the used market, so this certainly inspires excitement. We’ll be watching closely to see how the LEAF and other electric vehicles perform in upcoming months.”
The arrival of the LEAF sees January’s top model – and second-top performing model in 2021 and 2022 – the Land Rover Discovery Sport, rank second with an average margin of £3,240.
At brand level, Land Rover appears as the number one marque in the top 10 table with an average retail margin of £2,870. Further down the table, SsangYong (£2,250) makes its first appearance in the Retail Margin Monitor at eighth place, bordered by other SUV-making brands Jeep (£2,320) and Subaru (£2,180).
TeeBoon concluded: “Land Rover has consistently proved to be a profitable brand for dealers since the very first Retail Margin Monitor. Despite a Land Rover vehicle not taking the top model ranking, the marque has two popular derivatives further down the table. And, when you consider that Land Rover once again ranked as the number one brand this month, it doesn’t look like the marque’s popularity will be waning any time soon.
“Most importantly, new-entry marques like SsangYong and the Nissan LEAF’s unexpected appearances serve as the perfect reminder for dealers to keep a varied stocklist and use available data to keep up to date with any potential opportunities for further profit.”
Richard Walker, Insights Director at Auto Trader commented on the Monitor findings: “It’s fantastic to see change at the top of the table with the LEAF’s impressive almost £500 lead on the number two spot. Our speed of sale data supports this as in February the three fastest selling used models were alternatively fuelled vehicles.”
About Dealer Auction
Dealer Auction is the UK’s smartest and busiest automotive digital wholesale marketplace. We give buyers and sellers more choice, better insight and greater margins. Dealer Auction is an independent company, created through a joint venture between Cox Automotive and Auto Trader. For more information, visit www.dealerauction.co.uk.
Launched in January 2022, Dealer Auction’s Retail Margin Monitor tracks the potential retail margin that can be achieved on vehicles sold on Dealer Auction’s open network. We track models meeting two key criteria: more than 10 units sold and below £25,000 at retail. We then compare the sold price for each model with the Auto Trader market average to reveal the potential margin. We crunch the numbers at the start of every new month. This March 2023 edition analyses data from 1st February to 28th February 2023.
