Dealer Auction’s EV Performance Review shows that the average gross margin for AFVs in November jumped by just under a third on October’s data, rising 31.4% from £2,819 to £3,664.
The average sold price also rose – 7% month-on-month – and bids rose to over 5,000.
Dealer Auction’s marketplace director, Kieran TeeBoon, said: “The £800+ rise in average retail margins is significant.
“Consumer awareness of EVs is obviously crucial to making a profit, but that’s only part of the picture. Profit also comes from acquiring the right stock quickly to meet demand.”
In the used AFV profile, models dropped in age and mileage last month. This continued in November as the age profile dropped 3.4% to 3.4 years. In November, mileage dropped just 0.4% to 32,612 miles).
Ad views on EVs more than doubled from 2,819 to 7,419, a drop in hybrid views put the overall ad views in the negative for November, with 16.4% fewer views.
TeeBoon said: “November marked a pivotal moment in the EV Performance Review, as electric vehicles surged ahead in key performance metrics.
“While hybrids have long reigned supreme, the latest data could signal a turning tide. As we head towards 2025, it’s clear that electrification is no longer a future ambition but fast becoming a present reality.”
