NAMA Commercial Vehicle report – December 2013

Published 16/01/2014 00:00:00 in Press Releases

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

The report shows that during December the average values of used LCV’s at auction across the board increased by 5.4% from £4,512 to £4.757 between November and December.  However, total sales volumes saw a sharp fall of -51.2% with a total of 3,885 units being sold.

Auctions across the country delivered a sound performance in December bringing 2013 to a close on a high note. The average price paid for LCVs and conversion rates both reached a high point for the year whilst sales volumes and the number of entries required to sell each lot fell to their lowest points.

The number of days that LCVs remained on site fell to 11.3 and conversation rates improved by 3% standing at 79%.

2013 closed strongly with the prices being achieved for LCVs having mostly increased with an overall improvement of 5.4%. Disappointingly, the exception to this being a 3.5% fall recorded at 2-4 years. However, as the average mileage for LCVs in this age band grew over the month by a similar percentage, this probably goes some way to explaining the decline.

Across all age bands in December, the falls in volume were of similar magnitude and point toward LCV supply being restricted for some months to come.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “The LCV sector continues to be a marketplace where the outcome is being dictated by the balance between supply and demand.

“Accordingly, with supply looking likely to be limited over the first 6 months of 2014, the prospects for the overall sales performance remain positive although the total revenue generated will be constricted due to volumes being below what could be absorbed.

“In the final NAMA Report for 2013, the data collected from across the auction industry highlighted the strength of demand for LCVs that ensured the year closed on a high note.

“Together with reports of a strong start to the new year, this all points toward a profitable 12-months being there for the taking provided that best-practice is followed”.

 

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 Assistant
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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