Range Rover Evoque Tops Profit Charts for Used Car Dealers: Latest Motor Trade News

In the fast-paced world of car dealer news, an interesting revelation has emerged: the Range Rover Evoque has driven its way to the top of the profit ladder for used car dealers. According to data sourced from Dealer Auction's Retail Margin Monitor, these 4x4 favourites have been making dealerships across the UK a pretty penny, raking in an average profit of £4,130 per unit. Notably, this hefty figure narrowly nudged another Land Rover, the Discovery Sport, into a close second place, with an average profit of £4,120.

The data hails from Dealer Auction, a platform that brings together trade sales and retail data from Auto Trader, offering a comprehensive overview of the market's performance. By meticulously cross-referencing the selling price of used cars in trade auctions with their retail prices, the platform has unveiled the average profit margins achieved on each model.

Remarkably, Land Rover dominated the stage as the top manufacturer in terms of profit margins. The famed British marque left rivals in the dust, with used car dealers pocketing an average of £3,800 per sale. This impressive feat saw Land Rover comfortably surpass BMW, securing its second-place spot with a surplus of £800.

However, BMW did not go unnoticed, as it showcased its prowess in the used car market. Three BMW models—the 3 Series, 1 Series, and X1—claimed their spots in the top 10, each generating more than £2,780 in profit for resellers. Kieran TeeBoon, Dealer Auction's marketplace director, highlighted this accomplishment, emphasizing that BMW's diverse product range and strong performance signify unique opportunities for dealers to thrive in the months ahead.

TeeBoon commented, "The success of BMW products in August—coupled with the fact that BMW hatchbacks, saloons, and SUVs all performed admirably—is a real attention-grabber. As dealers vie for buyers' attention, it's unique profit opportunities like these that will help them attract new business as we move into autumn."

Dealer Auction's Retail Margin Monitor continues to be a valuable resource for dealers, providing tangible evidence of the most profitable vehicles and enabling them to gauge how their inventory aligns with consumer demand.

The top 10 most profitable used cars in August were as follows:

1. Range Rover Evoque – £4,130

2. Land Rover Discovery Sport – £4,120

3. Mitsubishi Outlander – £3,650

4. Volvo XC60 – £3,270

5. Mazda CX-5 – £3,020

6. Mercedes-Benz A-Class – £2,900

7. BMW 3 Series – £2,850

8. Mercedes-Benz C-Class – £2,800

9. BMW 1 Series – £2,790

10. Hyundai Tucson (tied) – £2,780 BMW X1 (tied) – £2,780
    
    

    

The most profitable car brands in August ranked as follows:

1. Land Rover – £3,800

2. BMW – £3,000

3. Mercedes-Benz – £2,900

4. Volvo – £2,800

5. Audi – £2,700

6. Mini – £2,570

7. Volkswagen – £2,300

8. Mazda – £2,295

9. Nissan – £2,260

10. Kia – £2,200

Auto Trader's director of data and insights, Richard Walker, chimed in on the data, noting the nuanced and volatile nature of the current retail market. He stressed that, despite the complexities, strong pricing pockets still exist, and with data-driven decisions, retailers can tap into the abundant profit potential available.

So there you have it, the latest motor trade news courtesy of the original article at cardealermagazine.co.uk. Range Rover Evoque takes the crown, Land Rover reigns supreme, and BMW's star continues to rise in the thriving world of used car sales.

source http://autoengage.co.uk/home-page-9252-9795-4532/b/range-rover-evoque-tops-profit-charts-for-used-car-dealers-latest-motor-trade-news