BMW celebrated a double third-place finish in Dealer Auction’s Retail Margin Monitor in October, with the BMW 3 Series earning the third spot in top-performing models and the brand itself securing third place in the top 10 brands.
The 3 Series, despite ranking as the slowest seller in the top 10, posted a notable average retail margin of £2,700, underscoring continued demand for premium models.
Land Rover maintained its dominance with the top two model spots: the Discovery Sport, boasting a record-high Auto Trader Retail Rating of 93 and a leading margin of £3,525, and the Range Rover Evoque, close behind with £3,450.
Kieran TeeBoon, marketplace director at Dealer Auction, noted the significance of the 3 Series’ high profit margin and slower turnover.
“These metrics reinforce what we’ve always said – it’s essential for dealers to have a healthy stock mix of ‘quick wins’ and opportunities for higher profit.”
This month’s data reflects the resilient premium segment, claiming a 60% share of the top 10.
Making its debut in the top 10 was the Vauxhall Grandland X, securing eighth place with a margin of £2,575, while the Volkswagen Tiguan held its position just ahead, showing robust mainstream model performance.
This trend aligns with a market that’s increasingly competitive, particularly in volume sales and solid margins, despite September’s 20% dip in UK car manufacturing, as reported by SMMT.
In brand rankings, Land Rover topped the profit-making list with an average margin of £3,650, followed by Mercedes-Benz (£2,700) and BMW (£2,600). Mazda re-entered the chart at seventh, and Peugeot returned for the first time since March.
Auto Trader’s Richard Walker noted the buoyant used car market, with confident pricing trends set to close 2024 on a strong note compared to the previous year.
“The used electric market is doing especially well, with overall BEV prices up month on month. We’re hopeful that as retailer confidence continues to grow in the second-hand electric segment, we’ll see more of an electric presence in the Margin Monitor.”
Dealer Auction’s Retail Margin Monitor, launched in January 2022, tracks potential retail margins on vehicles under £25,000 sold through its network, leveraging data from Auto Trader to compare sold prices against market averages.
