
Top AFVs on the Rise: What the Data Shows
The latest trends in the automotive industry reveal a strong performance from alternative fuel vehicles (AFVs). According to Dealer Auction's EV Performance Review (EVPR), the average retail margin for these vehicles saw a significant rise of 12.6%, reaching £3,049, while the average selling price climbed to £14,813. Despite the average age of sold vehicles increasing to 4.5 years with a mean mileage of 43,686 miles, it’s clear that consumer demand for reliable and efficient vehicles remains strong.
Trust in Performance: Consistency in Vehicle Choices
Kieran TeeBoon, the marketplace director at Dealer Auction, notes that specific models continue to dominate the market. The hybrid Volvo XC90 outperformed the competition with a robust margin of £5,886, highlighting consumers’ trust in brands that deliver reliability. Following it closely, the Tesla Model 3 stands out not only for gross margin but also for its high performance metrics, while the Mitsubishi Outlander shines in terms of sales volume.
Future Trends: EVs Gaining Ground
Looking ahead, there is anticipation surrounding how the AFV market will evolve, especially with the announcement of a new EV grant. TeeBoon emphasizes the importance of monitoring trends as more electric vehicles (EVs) enter the rankings. As the market matures, it is possible that consumer preferences may shift toward these environmentally-friendly options, further impacting sales and margins.
The Importance for Consumers and Dealers
Understanding these trends is vital for both consumers and automotive dealers. For buyers, knowledge of top performers can inform purchase decisions, while dealers can adjust inventory strategies based on which models are thriving. This evolving landscape in AFV performance not only provides insights into market preferences but also shapes the future of vehicle offerings in the UK.
Stay informed on the latest developments in the automotive industry, and consider how these trends may affect your next vehicle purchase. Keeping an eye on these reliable models can lead to a better investment in the long run.
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