NAMA Commercial Vehicle report – July 2014

Published 18/08/2014 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 increased by 2.2% from £4,839 to £4,645 between June and July. Volumes saw a 3.8% rise, and the average ages of LCV’s sold at auction fell to 63.9 months.

The average number of days that LCVs remained on site went down to 14.3 days, and the average mileage decreased -3.5% from last month to 81,393 miles.

In July, the average price paid for an LCV rose from £4,839 to £4,945 (+2.2%).

The total number of LCVs sold at auction in July increased by 329 units (+3.8%).

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “Despite predictions that with increased volume prices would decrease, we are seeing the opposite happening. July saw volumes up by 20% and prices up by 19%. The economy is growing and this is reflected in the commercial market.

“The 8 year and over market has dominated the sector for a long time starving buyers of younger stock, but the yellow line is finally shrinking and later plate vehicles are slowly appearing. We predict this trend will continue and 4-5 year old vehicles will take over as more enter the market.

“Once again the market data presented in this NAMA report illustrates the underlying strength of demand for LCVs at all years and clearly bodes well for sales prospects over the coming months.”

 

 

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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