NAMA Commercial Vehicle report – April 2014

Published 16/05/2014 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 decreased by -2.3% from £4,794 to £4,685 between March and April. Volumes increased by 0.2% to 9,220 units and the average ages of LCV’s sold at auction fell to 68.4 months.

The average number of days that LCVs remained on site fell to 12 and the average mileage was 85,297 miles.

The significant percentage fall in average price recorded in April can largely be attributed to a comparable percentage increase in average mileage. However, despite this slippage, price levels were almost 5% higher than at the same point in 2013.

With most LCVs selling at first time of asking (78%) it is worth noting that on average they achieved a price premium of £320 (+7%) over comparable lots sold in a subsequent sale.

Despite sales volumes remaining static in April, the current level represents a 27% increase in LCVs number over the past 12 months.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “The data contained within this report continues to demonstrate the underlying strength of the marketplace for used LCVs. However, it would appear that prices for each of the LCV age bands we highlight have become more sensitive to changes in volume and average age/ mileage.

“The LCV market is still very strong, however the seasonal drop during May is due to the bank holiday.

“Whilst the consequences of fluctuations affecting the balance between supply and demand are well understood, this sensitivity to relatively subtle changes in age and mileage might surprise vendors”.

 

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web:
www.rmif.co.uk Email: rupal.rawal@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 Trade Association which represents the retail motor industry in Scotland.

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