NAMA Commercial Vehicle Report – May 2015

Published 18/06/2015 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 the average value of used LCV’s at auction across the board increased 0.6% to £4.599 between April and May. Volumes saw a -4.1% decrease, and the average age of LCV’s sold at auction fell from 70.6 to 69.3 months.

The average number of days that LCVs remained on site declined to 14.9 days, and the average mileage decreased from 82,175 to 81,761 miles.

In May, the average price achieved for LCVs increased modestly by £27 (0.6%). However, as the average return has fallen by £325 (-6.6%) over the past 12 months it’s now apparent that price levels are gravitating to a more sustainable level. 

At 9,567 units, despite 406 fewer LCVs being sold at auction in May when compared to the previous month, against the same month in 2014 volumes stood 14% higher. With a solid uplift of 5.4%, it was only the 2 - 4 year age band that delivered any growth although this followed the big fall posted by this sector in April.

Paul Hill, NAMA Chairman Comments, “Following some patchy performances earlier in 2015, May proved to be a good month for those wholesaling light commercial vehicles. Falls in average age, mileage and volume each helped deliver a modest, though welcome increase in average price.

“Perhaps the most encouraging statistic to be seen in this NAMA LCV Report was that at 77.5% (+5.3%) the percentage of LCV lots selling at the first time of being offered was the highest recorded in 6 months.

“As we move through the remainder of 2015, it is likely that relatively small swings in the balance between supply and demand will be felt more sharply. Where volumes fall short of the maximum that the trade can absorb, we can expect to see stable market conditions with prices holding firm. However, for any sector and/or age band where even just a few too many LCVs are being de-fleeted, price slippage should be anticipated.

 

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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