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The number of used hybrids and EVs listed and sold on Dealer Auction rose in July, 8% month-on-month, and the number of bids grew 19%.
Appetite for EVs was particularly strong as sales increased 23% compared to June.
Kieran TeeBoon, Dealer Auction Marketplace Director, said: “The number of EVs and hybrids listed in July puts the drop in volumes we saw in June into context and is 28% up on H1 average.
“The fact that volumes are rising comes as no surprise, but what’s encouraging is the level of dealer interest in these derivatives.
“Ad views remain consistent month-on-month, but we are seeing a healthy increase in the number of views that translate into bids, the proportion of EVs and hybrid vehicles selling, and, in turn, the sold price achieved.
“As we see price parity between EV and hybrid with ICE vehicles, buyer demand will continue to increase.”
The average sold price rose to £14,877, a 4% increase from June and 7% up from the H1 average. The number of bids received on AFV stock was up 17% compared to the H1 average.
Volvo’s XC90 hybrid SUV was at the top of the profitability table with an average assumed gross margin of £5,215.
It was followed by the BMW 3 Series (£3,259), the Toyota RAV4 (£3,041), and the Nissan Qashqai (£2,982).
TeeBoon said: “This is just our fourth monthly EV Performance Review, but it’s already revealing a market in the process of establishing itself. The month-to-month shifts highlight how early we are in this space.
“What is increasingly evident is that demand for used EV and hybrid cars is growing, and the margin potential is comparable to ICE models.
“As more volume enters the market, we’ll continue to track the data and share our insights. This is an exciting emerging segment, and it’s something every dealer should be keeping a close eye on.”