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.

range rover

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.

sell more cars

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.

land rover

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

Comments

Post a Comment

Popular posts from this blog

Pentagon Motor Group Achieves Early Sales Success with BYD in the UK

Image
Pentagon Motor Group, a division of Motus Group (UK) Ltd, is celebrating a remarkable early sales achievement in partnership with Chinese automaker BYD. Since signing up with BYD late last year, Pentagon Motor Group has reported selling approximately 60 BYD vehicles at its Lincoln-based Pentagon Motor Village site within just one month. Pentagon MD, David Peel, expressed his admiration for BYD after attending the Munich Motor Show, where the Chinese brand made a significant impact. He highlighted BYD's flexibility in producing diverse vehicle models across different market segments. The initial UK offering includes models such as Atto 3, Dolphin, and Seal, all designed with UK consumers in mind. Peel stated, "I was extremely happy to announce our partnership with BYD and am even happier to report that we have already sold some 60 vehicles in the first full month of operations." Pentagon officially termed this figure a "significant early sales success."
Read more

Maximising Sales Opportunities: Insights from Motor Trade News

Image
In an enlightening piece from cardealermagazine.co.uk , motor traders are encouraged to gear up for a significant surge in used car searches post-Christmas Day, a trend backed by data from Motors. Since 2018, this period has consistently shown a notable increase in consumer interest, a valuable insight for dealers aiming to sell more cars. The data, meticulously analysed by Motors, indicates a lull in used car searches from late November until Christmas Day. However, the festive season's conclusion marks a sharp turnaround. Boxing Day alone witnesses a 38% increase in searches compared to Christmas Day, with a further 20% rise from Christmas Eve's figures. The crescendo of activity peaks on December 27th, with searches skyrocketing to 67% above Christmas Day levels and 46% higher than Christmas Eve. This trend is not just a fleeting post-Christmas phenomenon. The momentum builds steadily through to New Year's Eve, dips briefly, and then resumes its upward trajectory
Read more

Volkswagen Group Sales Surge: Almost Back to Pre-Pandemic Levels

Image
In exciting motor trade news from cardealermagazine.co.uk , Volkswagen Group is making a remarkable comeback, edging closer to pre-pandemic sales levels. Figures released on January 9th reveal that their sales soared by an impressive 12% in 2023, reaching a total of 9.24 million units. This significant growth surpasses the 8.3 million units sold in 2022 and nearly matches the 9.3 million sales achieved in 2020. The remarkable rebound signals a return to normality for the automotive industry after grappling with supply chain challenges brought about by various factors, including the war in Ukraine and semiconductor shortages. One highlight is the group's commitment to electric vehicles (EVs), with sales of EVs increasing by a remarkable 35%, reaching 770,000 vehicles. This surge comes despite earlier concerns about a lack of demand for EVs in recent months. China played a pivotal role in Volkswagen Group's success story, with the company selling 191,800 electric cars in the
Read more