NAMA Commercial Vehicle report – May 2014

Published 13/06/2014 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 increased by 5.1% from £4,685 to £4,924 between April and May. Volumes saw a 9% to 8,394 units and the average ages of LCV’s sold at auction fell to 66.6 months.

The average number of days that LCVs remained on site went up from 12 to 14 days, and the average mileage fell -4% from last month to 81,867 miles.

The significant percentage rise in average price recorded in May was attributable to increases delivered by the newest and oldest LCV stock. An overall monthly rise of 5.1% lifts the average price of an LCV sold at auction by 14% above where it stood a year ago.

To the end of April, as registrations of new LCVs had increased by 12%, it would have been reasonable to expect that this would have generated additional used van and pick-up stock. However, in May overall sales volumes fell by 9% which, with conversion rates having now slipped by 4% over consecutive months, suggests that demand dipped over the Bank Holiday weeks.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “A sharp fall in volume and a significant reduction in age suggest the strong returns enjoyed by vendors in May could mark the high point for prices in 2014.

“With sales volumes and age having moved downwards as prices leapt forward in May, this is a pattern which is unlikely to continue over the summer. Encouragingly, some vendors have already aligned their expectations to this reality.

“Accordingly, despite the prospect of lower price levels over the next couple of months, conversion rates should hold firm which will position LCV wholesalers to take full advantage of any autumn uplift”.

 

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 Trade Association which represents the retail motor industry in Scotland.

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