NAMA Commercial Vehicle Report – October 2015

Published 18/11/2015 00:00:00 in Press Releases

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

The report shows that the average value of used LCV’s at auction across the board increased 1.4% from £4,843 to £4,910 in October. Volumes saw a 2.3% decrease, however were up almost 21% on this time last year, and the average mileage of LCV’s was up 4.2% to 81,155.

The average price achieved throughout October increased for the 6th consecutive month to £4910 which represents an increase of 1.4% over last month, however when compared to last year it sits 5.2% down.

The volume of typical fleet vehicles (2-4 years) that were sold in October returned to levels that we have become used to throughout 2015, falling by -24% from the highs of September. Although these volumes have reduced substantially, vehicles in all other age groups actually increased further in October with the net effect being an overall reduction in volumes of only -2.3%.

Alex Wright, NAMA LCV Chairman comments, “October saw a 20% year-on-year increase in volume, and only a -5% reduction in value. Whilst first time conversion rates also retracted it was only by a relatively small amount to 77.4% which represents the third best month this year. 

“At 13.3 - the average number of days on site in October is lowest seen all year indicating that the influx of freshly de-fleeted units seen in October were received favourably by the trade.

“There does however, continue to be a growing volume of units with high mileages and/or in poor condition remaining unsold at auction centres.

“Should there continue to be decent volumes of freshly defleeted units arriving in the coming weeks, vendors may find it an even greater challenge to dispose of problem units as we enter what is a traditionally a slow period for volume sales.”

 

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.

Back to Articles
Back to Articles

Cookies

This site uses cookies. Some cookies are essential to ensure our website works for you in the best possible way. You may delete and block all cookies from this site, but parts of the site may not work. To find out more about cookies on this website and how to delete cookies, click here to see our cookie statement.

Close