NAMA Commercial Vehicle Report – June 2015

Published 16/07/2015 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 the average value of used LCV’s at auction across the board increased 1.7% to £4.677 between May and June. Volumes saw a 6.6% increase, and the average age of LCV’s sold at auction fell from 69.3 to 67.7 months.

The average number of days that LCVs remained on site rose to 15.4 days, and the average mileage decreased from 81,761 to 80,504 miles.

In June, despite the average price achieved for LCVs increasing by £78 (1.7%), this still represented a fall of £162 (-3.3%) over the past 12 months. 

In June, there was a sizeable increase in the number of LCVs being wholesaled through the auction system. Growth of 6.6% took the monthly tally to 10,202 units and delivered an increase of 17% over the same month in 2014. Encouragingly, with the exception of the oldest lots, supply improved at all years, which will be greatly appreciated by trade buyers.

Paul Hill, NAMA Chairman comments, “This month’s LCV report delivers plenty of good news for those wholesaling used LCVs to digest, and highlights that the market for used LCVs remains robust.

“In June, average price and overall volume each saw healthy gains with average mileage continuing to fall back. These are positives that set the scene once we are through the summer lull, for a strong second half of 2015.

“The less positive news is that used LCVs are remaining on site for longer, with a sizeable increase in the proportion that do not sell at the first time of being offered, partially due to volume increases and a higher proportion of duplicate stock.

“Any indications of tougher times ahead are mostly being driven by the approaching holiday season when traditionally few dealers would wish to be holding too much stock. However, vendors would be well advised to heed such warning signs and take steps to ensure that the used LCVs they bring to auction are presented in a manner that will maximise returns or to take account of condition when setting reserve prices.

“Although there are undoubtedly challenges ahead of us, with the UK economy being healthy and set to grow over the coming 12 months, there is good reason to be optimistic over the medium term.”

 

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, Press 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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