The Mercedes-Benz GLC topped the list of used vehicles with the greatest profit potential purchased through daily online auctions conducted by Carwow in the final quarter of 2023.
The online car sales group’s ‘Profit Potential’ report, which compared the prices of vehicles sold through all of its auctions between October and December last year with cap Retail values, produced an average profit potential for the Mercedes of £4,331.
Second in the rankings was the Audi Q5, with an average profit potential of £3,691, followed by the Range Rover Evoque (£3,400), the BMW 3-Series (£3,065) and the Skoda Kodiaq (£2,923).
The Ford Puma came in sixth with an average potential profit margin of £2,812, followed by the Volkswagen Polo and Mercedes-Benz A-Class, with £2,156 and £2,104 respectively.
The Volkswagen T-Roc (£2,072) and Audi A1 Sportback (2,071) completed the top 10.
Carwow operates round-the-clock bidding for its online auctions, which are held six days a week, enabling dealers to access around 12,000 cars and light commercial vehicles per month directly from private sellers.
Figures produced by the company show that since it launched its stock acquisition service in 2021, it has helped add 125,000 used vehicles to dealer forecourts, worth a combined value of over £1.5 billion.
According to Carwow’s Chief Commercial Officer – Sell My Car, Sally Foote, the company’s priority is to help dealers maximise profit by providing access to large volumes of high-quality stock, keeping buyers’ fees lower than the competition, and by not requiring a subscription.
“As we noted in the final quarter of 2023, the increase in premium-brand stock being listed is making a positive difference to our dealer partners’ bottom line,” Foote said.
“Similarly, by moving to a round-the-clock bidding auction model, we continue to provide our dealer partners with greater convenience and flexibility.”
Carwow launched a new advertising campaign in February encouraging consumers to update their cars and release more fresh quality stock into the used market.
