NAMA Commercial Vehicle report – May 2013

Published 14/06/2013 00:00:00 in Press Releases

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

The report shows that during May the average values of used LCV’s at auction across the board fell from £4,497 to £4,322, equivalent to a -4% decrease between April and May. With mileage and age also having risen over the month, it is testament to the underlying strength of the marketplace that demand held up as well as it did.

Despite volumes, age and mileage having all increased sharply over the past 12 months, conversion rates held steady at 74%, the same as this time last year. Days in stock fell and prices slipped by less than 8%.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “It is encouraging to see such a healthy demand for younger vehicles.

“The 9% rise in the year on year difference for all ages is a welcoming leap and we are delighted to see the market has really lapped it up this month and that prices are holding up well.

“With summer now upon us, the LCV marketplace is likely to slow down as the holiday season takes buyers away from the day job over the next few weeks. However, barring any unforeseen hiccups on the wider economic front that dampens demand for LCVs, it is to be hoped that autumn will deliver a strong performance across the auction scene, ensuring that 2013 closes strongly”.

 

ENDS

Notes for editors:

Keely Scanlan, Press Officer

Tel: 020 7307 3410

Mob: 07825097697

Press Office direct line: 020 7307 3422

Press Office fax: 020 7307 3406

Web: www.rmif.co.uk Email: keely.scanlan@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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