NAMA Commercial Vehicle Report – June 2014

Published 15/07/2014 00:00:00 in Press Releases

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

The report shows that during June the average values of used LCV’s at auction across the board decreased by -1.7% from £4,924 to £4,839 between May and June. Volumes saw a 3% rise, and the average ages of LCV’s sold at auction fell to 66.1 months.

The average number of days that LCVs remained on site went up to 14.8 days, and the average mileage increased 3% from last month to 84,316 miles.

In June, a slight decline in average price (-1.7%) was attributable to the weaker performance delivered by newer stock. Despite this decline, the average price paid for LCVs rose by 13% above where they were standing a year ago.

With sales volumes rising, June continued the robust levels of demand witnessed across the wholesale marketplace over the past 18-months. However, following what are likely to be some slower months over the summer, it is hoped that September will bring equilibrium to the balance between supply and demand.

Paul Hill, NAMA Chairman Comments,” With sales volumes rising, June continued the robust levels of demand witnessed across the wholesale marketplace over the past 18-months. However, following what are likely to be some slower months over the summer, it is hoped that September will bring equilibrium to the balance between supply and demand.

“Despite closing on a low note, the first half of 2014 has marked the successful conclusion of 6 months when demand had held firm for most used LCVs, driving prices to levels that were well above expectation.

“Although the next 6 months are likely to provide our industry with a fresh set of challenges, following sluggish demand in July and August, there is little reason to be pessimistic over prospects for the remainder of the year.”

 

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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