Dealer Auction’s EV Performance Review (EVPR) for March reveals a particularly strong month for EVs, with their sales share rising by 78%. Despite remaining a small proportion of the overall sales share, buyer intent is clear.
The average retail margin for alternative fuel vehicles saw an uplift, increasing from £2,829 in February to £3,320 in March – one of the highest monthly figures recorded on Dealer Auction. Quarterly numbers show a 26% lift in average margin for Q1 YoY.
Dealer Auction Marketplace Director Kieran TeeBoon said: “The increase in both interest and sales for EVs suggests that the Iran conflict – while a contributing factor – is not simply driving a short-term panic response.
“Instead, the data points to a shift in buyer behaviour, as consumers consider both the long-term transition to net zero and the immediate impact of rising fuel costs when choosing their next vehicle.”
EVs secured three positions in the top 10 retail margin rankings: the Tesla Model X (third), Volkswagen ID.3 (sixth) and a first-time entry for the Jaguar I-PACE (ninth).
The hybrid Volvo XC60 topped the retail margin charts for both the month and the quarter.
The Tesla Model X proved competitively priced, leading the top 10 for CAP Clean performance, plus a standout profit margin. It also ranked as a top performer across the quarter.
The Renault Scenic E-Tech secured fifth place for CAP Clean EVs and performed well in terms of sales volume. The Nissan LEAF and Tesla Model Y ranked third and ninth respectively.
Overall, hybrids continued to dominate, with Lexus enjoying a strong showing – with three models appearing in the CAP clean chart and two models in the retail margin top 10.
The hybrid Hyundai Tucson achieved the second-highest sales volume and secured a top 10 CAP performance position in March.
The Tesla Model X maintained strong momentum, ranking in the top 10 for retail margin across the quarter, while the Volvo XC60 consistently led the retail margin charts.
