NAMA Commercial Vehicle report – April 2013

Published 14/05/2013 00:00:00 in Press Releases

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for April today.

The report shows that during April the average values of used LCV’s at auction across the board rose from £4,293 to £4,497, equivalent to a 5% increase between March and April. With conversion rates staying at a high of 80% and sales volumes and mileages falling by significant amounts, the prospects for May and June seem encouragingly high.

Average No. of Days on Site – Year-on-year comparison

Nov-12

Dec-12

Jan-13

Feb-13

Mar-13

 

Apr-12

Apr-13

Year on Year Diff

12.9

12.9

14.7

12.4

10.9

 

16.3

10.7

-5.6

 

 

 

 

Average Age in Months

Nov-12

Dec-12

Jan-13

Feb-13

Mar-13

 

Apr-12

Apr-13

Year on Year Diff

60.5

59.7

64.1

63.3

64.9

 

57.6

64.9

7.3

 

 

 

 

The average number of days that LCVs remained on site was 10.7, a healthy year-on-year reduction of 5.6 days. This reduction in days on site will be of benefit to corporate vendors as it will provide a boost to cash flow as vehicles are disposed of more quickly.

Whilst the year-on-year average price was down £213 it is important to note that the LCVs sold in April 2013 were on average significantly older and had covered more miles than those sold in the same month of 2012.

In addition, despite the average age having increased by 7.3 months and average mileage rising by 5,508 miles, conversion rates were 5% higher.

Prices for first time entries compared to prices at subsequent sales

 

Sep-12

Oct-12

Nov-12

Dec-12

Jan-13

Feb-13

Mar-13

Apr-13

Price – 1st Entry

£4,590

£4,750

£4,615

£4,750

£4,390

£4,550

£4,325

£4,600

Price – 2nd or Subsequent Entry

£4,375

£4,325

£4,450

£4,325

£3,930

£4,360

£4,045

£4,480

 

 

 

 

 

 

 

 

The price difference between first time entries compared to subsequent sales has been closing in recent months. Alex Wright, Chairman of NAMA Commercial Vehicle Group, said that this is due to vehicles being more appropriately priced in the first instance as vendors are pleasantly surprised by the strength of price as bidding in halls go past the reserve.

Commenting on the market, Alex Wright said “With the April report delivering such a positive message in regards to nearly every aspect of the used LCV market it likely that few will be able to remember a time when the market for light commercial vehicles was so vibrant with demand being so well matched to supply.

“If all vendors continue to price their vehicles to the market value and allow the auctions to have ample time to pre-market their vehicles it is probable that 2013 will deliver the best returns seen for vans in many a year.”

END

Notes for editors:

Keely Scanlan, Press Officer

Tel: 020 7307 3410
Mob: 07825097697
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk Email: keely.scanlan@rmif.co.uk
The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

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