NAMA Commercial Vehicle report – July 2013

Published 14/08/2013 00:00:00 in Press Releases

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

The report shows that during July the average values of used LCV’s at auction across the board fell by just 2% from £4,289 to £4,188 between June and July. Total sales fell by -4% from 6,255 to 6,007 units.  

Over the past 12 months average age and mileage increased by 8.3 months and 4,361 miles respectively which more than accounts for a fall of £237 in the price of the average LCV lot. However, over this period, conversion rates modestly improved, days on site reduced and the average number of entries needed to achieve a sale held firm.

Price Changes

 

Jan-13

% Diff

Feb-13

% Diff

Mar-13

% Diff

Apr-13

% Diff

May-13

% Diff

Jun-13

% Diff

Jul-13

% Diff

<2 Years

£10,620

-5%

£9,385

-12%

£10,595

13%

£10,735

1%

£10,305

-4%

£9,990

-3%

£10,775

8%

2 - 4 Years

£6,035

-4%

£6,365

5%

£6,310

-1%

£6,780

7%

£6,480

-4%

£6,315

-3%

£6,200

-2%

4.1 - 6 Years

£3,955

-7.5%

£3,985

1%

£3,970

0%

£4,285

8%

£4,075

-4.9%

£3,925

-4%

£3,840

-2%

Over 6 Years

£1,975

-23%

£2,075

5%

£1,970

-5%

£2,345

19%

£2,145

-9%

£2,070

-3%

£1,945

-6%

The sales pattern set in June continued throughout July with prices at most years easing. However, strong demand for the limited number of nearly new LCVs on offer resulted in a strong uplift in the returns they generated at auction.

Volume Changes by Age

 

Jan-13

% Diff

Feb-13

% Diff

Mar-13

% Diff

Apr-13

% Diff

May-13

% Diff

Jun-13

% Diff

Jul-13

% Diff

<2 Years

365

137%

431

18%

198

-54%

316

60%

323

2%

346

7%

335

-3%

2 - 4 Years

1,685

59%

1,625

-4%

2,058

27%

1,502

-27%

2,083

39%

1,706

-18%

1,538

-10%

4.1 - 6 Years

2,208

44%

2,596

18%

2,497

-4%

2,140

-14%

2,671

25%

2,104

-21%

2,097

-0.3%

Over 6 Years

1,880

134%

1,871

-0.5%

1,972

5%

2,295

16%

2,645

15%

2,099

-21%

2,037

-3%

Total

6,138

73%

6,523

6%

6,725

3%

6,253

-7%

7,722

23%

6,255

-19%

6,007

-4%

In the month of July, the volume of LCVs on offer reduced across all ages. This bodes well for market prospects as we move towards September.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “The market performance reflected in this month’s LCV report was in line with our expectations, and sets out the path for the first weeks of August when activity across wholesale channels is likely to be unpredictable. However, the indications are that with demand across several sectors still exceeding supply, price levels should remain stable.

“Over what are the traditionally slow weeks of summer, it should not have come as too much of a surprise to see that LCV prices fell by 2% in July. Comparing this performance to the same month a year ago throws up some hard facts that highlight why, despite healthy demand for almost all clean LCVs, price levels were expected to slip.

“In August, sales of new LCVs offer little hope that plenty of desirable late year lots will appear, therefore the most attractive used stock will remain in extremely short supply. Accordingly, it continues to be necessary for older vans with higher mileage to be remarketed to their full potential if any shortfall in overall returns is to be plugged. Vendors will be well positioned to take advantage of what promises to be a healthy level of demand for all clean stock over the autumn months, which will hopefully bolster prices and lead to a profitable close to the year”.

ENDS

Notes for editors:

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

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