Commerce purchaser curiosity for hybrids and EVs jumped by 65% in 2024

Commerce-to-trade gross sales for hybrids and electrical autos jumped by 64.9% year-on-year in 2024, based on new figures from Supplier Public sale.

The digital wholesale market place’s annual round-up EV Efficiency Evaluate (EVPR) reveals the shift in shopper curiosity in alternatively fuelled autos (AFV).

The platform noticed 51,259 bids obtained on AFVs and 204,058 advert views – year-on-year will increase of 25.83% and 16.6% respectively.

Though AFVs nonetheless signify a small proportion of the market – 5.6% on the Supplier Public sale platform – the info illustrates that increasingly sellers are eager to faucet into the revenue potential of those fashions.

In actual fact, the proportion of electrical car gross sales doubled from 0.43% to 0.88% in 2024, whereas the proportion of hybrids elevated from 2.96% to 4.72%. In the meantime, the proportion of diesel fashions fell by 4.16% throughout 2024.

Kieran TeeBoon, Supplier Public sale’s market director, stated: “The outstanding 64.9% leap in trade-to-trade AFV gross sales underscores the shift in shopper demand towards hybrid and electrical autos, displaying the alternatives for sellers in 2025.

“This annual round-up is an indicator of long-term tendencies, with varied fashions commanding a powerful CAP efficiency and potential margins.”

TeeBoon stated stock-savvy sellers ought to hold a detailed eye on month-to-month information to maintain on prime of AFV tendencies.

He added: “General, 2024 has been a powerful 12 months for the used AFV market, reflecting the rising urge for food for greener, extra sustainable choices within the market.

“With SMMT not too long ago saying that new EVs took a report annual quantity and market share at 19.6% – up by greater than a fifth from 2023 – it is going to be attention-grabbing to see how this might filter into the used market in 2025.”

Common retail margins unchanged in 2024

The age and mileage of the AFVs elevated barely in 2024: the typical age elevated by 3% to 4.3 years outdated, whereas the typical mileage elevated by 11% to 38,103.

Though, notably in December 2024, the typical age fell to three.1 years, displaying the significance of the newest information in addition to broader tendencies.

Whereas the typical retail margin for AFVs remained broadly unchanged from 2023 (falling by 2.2% to £2,870), that is indicative of the broader UK value of dwelling disaster and the affect on the automotive trade as an entire.

Homing in on the highest performing trade-to-trade fashions of 2024 on the Supplier Public sale platform, hybrids continued to dominate the AFV market – occupying all of the spots within the prime 10 autos by CAP efficiency and prime 10 by common gross margin, and 90% of the highest 10 by quantity bought. Certainly, the Nissan Leaf is the one EV to function wherever within the rankings – remaining one of many best-selling electrical automobiles on the UK market.

The hybrid dominance will come as no shock to followers of the EVPR, who could have noticed hybrids typically occupying the month-to-month prime positions throughout 2024. It means that hybrids will proceed to outperform EVs for a while to return.

The hybrid Lexus RX took first place for common gross margin, providing sellers a possible margin of £3,525.

However excluding this mannequin, mainstream manufacturers had been those to look at for revenue potential, making up 90% of the highest 10 – together with the Hyundai Tucson coming in second place (£3,415) and the Toyota RAV4 in third (£3,058). Certainly, 5 Toyota fashions made the checklist.

Proving its reputation as soon as extra, the best-selling used AFV of 2024 was the Hyundai Tucson (pictured above), adopted by the Toyota Yaris and Mitsubishi Outlander – the latter additionally being the quickest vendor of the highest 10, promoting in 34.7 days on common.

When it got here to CAP efficiency in 2024, Toyota reigned supreme, taking the highest three spots and commanding 50% of the highest 10 total. The highest spot was claimed by the Auris, with a CAP efficiency of 102.2%, adopted by the RAV4 (102.1%) and C-HR (101.4%).

High 10 common assumed gross margin in 2024