Data from Dealer Auction’s Retail Margin Monitor for November 2024 revealed that while Land Rover continue to top the makes chart, nothing is certain with Hyundai’s debut and Renault’s return.
While premium brands continue to take the top spots, it’s the rest of the top ten that demonstrate how broadening your scope can lead to profitable margins. Hyundai have entered the chart for the first time with an average retail margin of £2,175, placing it tenth. Just above them are Renault – returning to the chart for the first time since November 2023 – with an average of £2,300. Meanwhile, a healthy average retail margin of £2,400 moved Peugeot up from its October tenth spot to sixth in the ranking.
Other brands have yet to threaten Land Rover, which has held the top spot since March 2023 and had an average estimated retail margin of £3,825 in November. Second place was BMW (£2,650), followed by Mercedes-Benz in third (£2,625). Audi’s performance stayed strong at fourth place with an average retail margin of £2,550 – signalling increasing competitiveness in the premium segment and hinting at potential shifts in the top 10.
Dealer Auction’s Marketplace Director, Kieran TeeBoon, commented: “It’s clear that both premium and mainstream brands are yielding strong profits. While Hyundai gets the headline, Peugeot and Renault’s impressive showing certainly warrants attention, with a comparatively strong demand in the mainstream sphere. This signals strengthening confidence and market resilience supporting Auto Trader’s predictions for 2025.”
At model level, the Land Rover Discovery Sport kept the top spot for the second month running, with an average retail margin of £3,525, and has been the top profit-maker in nine out of the 11 months in 2024. Also staying put was the Range Rover Evoque (£3,475) in second, followed by the Mercedes-Benz C-Class in third, with an average retail margin of £2,750.
November marked a return to form for Mercedes-Benz, with the A-Class and C-Class both staking a claim in the top 10 for the first time since August.
But, once again, mainstream models were not to be overlooked. The Ford Kuga performed particularly well, appearing for the first time since December 2023 and taking seventh spot, with an average retail margin of £2,625. Just behind it was the Hyundai Tucson, which rose from tenth to eighth.
TeeBoon concluded: “November provided a compelling narrative, with plenty of movers and shakers in the premium and mainstream spheres. The numbers reinforce our long-held belief that data backs up dealers’ instincts, giving deeper context for your stock decisions.
“There’s plenty to digest ahead of our 2024 round-up next month. Will the Discovery Sport or Evoque end 2024 on top? Will there be a 50-50 split between premium and mainstream in the top 10? Which model will be the fastest seller of the year? Watch this space!”
Richard Walker, Director of Data and Insights at Auto Trader commented: “This month’s Margin Monitor has shown just how important staying close to the data is, with some surprising brands and models appearing in the top ten lists. With clear profit opportunities available, it’s been great to see buying confidence as well as retail pricing remain steady this autumn.
“However, there’s still considerable profit being overlooked and with January buyers already beginning their search, it’s a crucial time. When things are tough it can be difficult to know what to base decisions on but if you rely on the data, both to merchandise effectively and to select the best vehicles for their market, you’re setting yourself up for success.”
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About Dealer Auction
Dealer Auction is the UK’s leading digital remarketing platform. 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 bought via Dealer Auction’s open network. We track models meeting two key criteria: more than 20 units sold with a retail price of less than £25,000. We then compare the sold price for each model with the Auto Trader market average to reveal the potential margin. For the brand table, we compare models with more than 50 units sold. We crunch the numbers at the start of every new month.
Notes:
1The average ‘Auto Trader Retail Rating’ uses three key metrics to determine the consumer demand for the vehicle:
- Average days to sell – Calculated for the whole of the UK and then adjusted for the variations Auto Trader have observed locally in your area.
- Live market supply – Comparing the national supply level for the vehicle over the last seven days with the usual level of supply Auto Trader have seen in the market over the last six months.
- Live buyer demand – Analysing how many people are currently searching for the vehicle on Auto Trader, comparing consumer search behaviour over the last seven days against the level of interest over the last six months.
