NAMA Commercial Vehicle Report – November 2014

Published 15/12/2014 00:00:00 in Press Releases

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

The report shows that during November the average values of used LCV’s at auction across the board decreased by -4.4% from £5177 to £4,948 between October and November. Volumes saw a -13.2% decrease, and the average age of LCV’s sold at auction rose to 66.3 months.

The average number of days that LCVs remained on site rose to 13.2 days, and the average mileage decreased from 83,843 to 82,772 miles.

Despite the average price paid for an LCV in November falling to £4,948 (-4.4%) this still represents an increase of 10% over the same month last year.

At 7,177, the total number of LCVs sold at auction in November fell sharply across all age bands. Compared to this same month in 2013, this represented an overall fall of 10%.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “In November, although the trade’s appetite for clean stock at all years held firm, the prices that they were prepared to pay for it did not.

“The fall in average price of 4.4% would undoubtedly have been more marked if there had not been sizeable reductions to both overall volume and average mileage. However, despite a rise in average age, the momentum exhibited by the wholesale LCV marketplace throughout 2014 was maintained with an impressive 82% of lots selling at the first time of being offered.

“We are confident that the currently high level of demand from both trade and end-user buyers for all clean stock will be maintained with the New Year getting off to a brisk start."

 

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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