NAMA Commercial Vehicle Report – February 2015

Published 16/03/2015 00:00:00 in Press Releases

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

The report shows that the average value of used LCV’s at auction across the board decreased from £4,907 to £4.749 between January and February. Volumes saw an 8.6% increase, and the average age of LCV’s sold at auction fell to 68.6 months.

The average number of days that LCVs remained on site declined to 15 days, and the average mileage decreased from 84,617 to 82,650miles.

At £4,749, the average price paid for LCVs in February fell by £34 (-0.7%) which represented a fall of £95 (-2%) against the comparable figure recorded in 2014.

At 10,566 the total number of LCVs sold at auction in February continued to grow across all age bands. The total sales volume was an impressive 23% above the figure posted by this same month last year.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “The data presented in this latest NAMA LCV report suggests that there is still a healthy level of demand for most light commercial vehicles. In February, an 8.6% increase in volume led to modest price falls yet, as average age reduced slightly with mileage falling sharply a better result would have been hoped for.

“Despite February having bounced back after a patchy start to 2015, there have been several subtle changes as to what used stock is currently in demand. Scruffy, high mileage LCVs over 4-years of age took the biggest hit which was to be expected as the demand witnessed over the past 24 months for such hard-used lots was driven solely a lack of more desirable alternatives.

“With 2014 posting an LCV sales increase close to 19% with the first 2 months of 2015 delivering growth above 20%, the greatest impact on prices will be exerted by soaring van and pick-up registrations. From this point onwards its business as usual with growth in the wider economy hopefully leading to sufficient demand to keep pace with the ever-higher volumes being de-fleeted.”

 

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.

Back to Articles
Back to Articles

Cookies

This site uses cookies. Some cookies are essential to ensure our website works for you in the best possible way. You may delete and block all cookies from this site, but parts of the site may not work. To find out more about cookies on this website and how to delete cookies, click here to see our cookie statement.

Close