Land Rover Continues to Drive Profits for Used Car Dealers in 2023

In the dynamic world of the motor trade, Land Rover models have once again proved to be the golden ticket for used car dealers, leading the profit charts for the third consecutive year in 2023. This impressive feat is revealed in the latest data from Dealer Auction, a trusted source in the motor trade news landscape.

The iconic British marque, Land Rover, has consistently dominated the firm's monthly lists throughout the year, clinching the top spot for both brands and models. The Range Rover Evoque takes the coveted first place in the annual models list, boasting an average profit of £3,325 for car dealers, as reported in Dealer Auction's 'Retail Margin Monitor' report. This achievement marks a changing of the guard, dethroning last year's winner, the Land Rover Discovery 4, which delivered an average profit of £4,340 in 2022.

Land Rover's influence doesn't stop at the Evoque; another Land Rover model, the Freelander 2, also secures a place in this year's Top 10, offering dealers an attractive average profit margin of £2,425.

Dealer Auction compiles this prestigious list by meticulously tracking the sale prices of cars on its dealer-to-dealer platform and their eventual retail prices on Auto Trader. While it doesn't factor in any dealer-applied discounts or special offers, it provides valuable insights into achievable profit margins.

Throughout the year, the Range Rover Evoque consistently impressed, reaching its peak profit margin in November at a remarkable £5,100 per car. This performance echoes Land Rover's success in 2021 when the Discovery 4 clinched the top spot with a profit margin of £3,060.

Kieran TeeBoon, Dealer Auction's marketplace director, comments on these impressive results, stating that "the top-selling profit-makers were consistent in 2023, with Land Rover continuing to reign supreme and other premium models regularly appearing in the top 10. Despite the economic and political headwinds in 2023, it's clear that there are significant opportunities for stock-savvy dealers to bolster their profit margins and start 2024 on a high."

On a brand level, Land Rover continues its reign as the leader, boasting an average retail margin of £3,425. However, Jaguar, its sister brand, which held second place last year, has dropped out of the Top 10 following a challenging year.

Instead, German automakers BMW and Mercedes claim second and third place, respectively, showcasing the changing dynamics in the market. Data also reveals that Land Rover secured the top spot in 11 out of 12 months in 2023, with BMW and Mercedes-Benz consistently holding top three positions.

Furthermore, 2023 witnessed a more diverse lineup of brands in the Top 10, a departure from the previous two years, where premium marques dominated the list.

In conclusion, Land Rover's models have once again proven to be the most profitable choice for used car dealers in 2023, marking their third consecutive year at the top. This success, despite economic challenges, highlights opportunities for dealers to enhance their profit margins. The motor trade news from Dealer Auction provides valuable insights into the industry's performance, emphasizing the importance of data-driven pricing strategies.

You can read the original article here: [cardealermagazine.co.uk]

source http://autoengage.co.uk/home-page-6165/b/land-rover-continues-to-drive-profits-for-used-car-dealers-in-2023