NAMA Commercial Vehicle report – August 2014

Published 16/09/2014 00:00:00 in Press Releases

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

The report shows that during August the average values of used LCV’s at auction across the board decreased by 0.3% to £4,928 between July and August. Volumes saw a -8.7% fall, and the average age of LCV’s sold at auction fell to 63.8 months.

The average number of days that LCVs remained on site went down to 13.8 days, and the average mileage decreased -3.5% from last month to 81,393 miles.

In August, the average price paid for an LCV was slightly lower £4,928 (-0.3%).

The total number of LCVs sold at auction in August decreased by 789 units (-8.7%).

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “With most of us taking our holidays in August, this is destined to always be a slow month with little trade activity. In the main, the data contained within this NAMA LCV Report delivered good news, yet with sales volumes having slipped significantly (-8.7%) it is likely that the small reduction in average price (-0.3%) would have been more pronounced if the number of LCVs being wholesaled had remained high.

“For September it is reasonable to expect increased demand across all light commercial vehicle sectors with even 4x4 double cabs performing somewhat better than seen over the past 12 months. However, across most light commercial vehicle sectors, price levels are approaching a high point in the current cycle.

“Accordingly, in order to extract the maximum return from each lot, vendors should ensure that they consistently present their stock to its best advantage. If not, the risk is that trade buyers might soon begin to view such LCVs as being overpriced which would lead inevitably to problems.”

 

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.

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