NAMA Commercial Vehicle Report – January 2015

Published 16/02/2015 00:00:00 in Press Releases

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

The report shows that during January the average values of used LCV’s at auction across the board decreased -3.6% from £5,091 to £4,907 between December and January. Volumes saw an 85% increase, and the average age of LCV’s sold at auction rose to 67.5 months.

The average number of days that LCVs remained on site went up to 17.6 days, and the average mileage increased from 82,831 to 83,349 miles.

At £4,907, despite the average price paid for LCVs in January falling by £184 (-3.6%) this still represented an uplift of £100 (+2%) over the comparable figure recorded in 2014.

At 8,427, the total number of LCVs sold at auction in January grew sharply from the low point reached in December. Despite increases being posted across all age bands, the total volume was more than 8% below that recorded in January 2014.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “The year on year figure for LCV’s was not as predicted. In fact, the opposite of what everyone expected has happened.  Volume was down and prices were up again on a very strong January 2014.

“The age of stock over 6 years the highest sector with a mileage increase and it seems there is still a significant amount of other 6 year stock to wash through the pipeline yet. In January, the number of days LCV’s remained on site went up by 5 days. This was as expected as some Vendors held out stock over the festive period and earlier.

“Conversion rate remained positive at 75%, despite older and higher mileage stock in market, and it was encouraging to see stock up to 3 years old and low mileage is still at a premium.”

 

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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