Dealer Auction’s new EV Performance Review (EVPR) has revealed that trade-to-trade listings of alternatively fuelled vehicles (AFVs) have shot up 30% this year.

Trade-to-trade listings of alternatively fuelled vehicles (AFVs) have shot up 30% this year

A just-launched snapshot of EV and hybrid performance on the Dealer Auction digital remarketing platform, the EVPR also shows that the number of AFVs sold has increased by 47%. The numbers compare the period January to April versus the previous full four months.

Dealer Auction’s marketplace director, Kieran TeeBoon said the EVPR’s “monthly temperature check of EVs and hybrids” on the platform was yielding fascinating data about a changing used market.

“2024 thus far has already seen a notable leap in AFVs sold and it will be interesting to see how the year plays out. This alone tells us that, even though they represent a small proportion, compared to ICE, they are figuring in the plans of more and more dealers. That will only increase as AFVs ultimately become a bigger part of the overall car parc picture.”

Although combined AFV listings and sales increased during the period, the number of hybrid listings has dropped by 7%; however, the amount sold rose by 22%.

Year-to-date bidding activity shows that ad views for EVs and hybrids were up 11%, while bids received shot up by more than 15%.

Viewed against a backdrop of reduced hybrid listings, the search increase demonstrates an evident dealer appetite for hybrids’ growing profit potential.

The fuel-type split for the period highlights that EVs have seen a small dealer-to-dealer sales increase at just 0.23%, while hybrids equal 0.71%. The number of diesels sold in this period dropped by 2.4%.

“The slide in the number of diesel vehicles sold is notable and reflects their obliteration from the new car market,” TeeBoon said. “But despite falling out of favour in urban areas, used diesel retains a loyal following outside of cities and with people covering huge mileages or where towing is essential. Competition for this stock will likely intensify as volumes wane.”

The average sold price of EVs and hybrids on Dealer Auction between 1 January and 30 April dropped by 4.5% (£13,609). Their average age increased by 11% (or nearly five years), while the average mileage climbed by more than 3% to 40,315 miles.

TeeBoon added: “The profile of the EVs and hybrids we’ve seen so far this year makes me wonder if dealers are increasingly hanging on to any younger models traded in instead of pushing them out for a trade sale. Used EVs, in particular, represent great value versus their new price while hybrids are the natural replacement for buyers not ready to jump fully into electric, and this could be influencing stock decisions.”

The Lexus UX hybrid is the best-performing AFV on Dealer Auction so far this year. On average, the luxury compact SUV has had a CAP performance of 119%, a days-to-sell figure of 45, and an AT Retail Rating of 51.

“The EVPR provides a fascinating insight into dealer activity around AFVs and where appetites lie,” TeeBoon concluded.