NAMA COMMERCIAL VEHICLE REPORT – APRIL 2015

Published 15/05/2015 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 12%. The average age of LCVs saw an increase from 70.1 to 70.6 months. The average mileage decreased from 82,232 to 82,175.

The average number of days that LCVs remained on site was 15.7 days. At £4,573 the average price paid for an LCV fell 1.1%.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “The data contained within this report demonstrates again the strength of the marketplace for used LCVs. 72.2% of LCVs sold the 1st time of being offered the first time an total overall of -0.2%. 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 as a wholesale also became more challenging as the prices for used LCVs have fallen. This is because of the lower reserve prices for maintenance conversion rate purposes and bolster returns.”

“There is a dramatic drop in 2 to 4 year old leasing stock pushing the overall age to its highest level in a long time of over 70 months.

We see however a clear stabilisation within each age band, as the average age for LCVs continues to increase and mileage remains high.”

“Volume has dropped month on month  but most importantly it is still 8%  higher than this time last year. The 1st time conversion rate has dropped by 5.3% as the buyers have started to get more selective. The auctions halls are still full of buyers and the right stock is still very sort after achieving very high prices. We are looking forward to a strong steady van market over the summer as long as vendors properly assess the conditions of these working vehicles.”

 

ENDS

NOTES TO EDITORS:

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.   

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