NAMA Commercial Vehicle report – September 2013

Published 22/10/2013 00:00:00 in Press Releases

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

The report shows that during September the average values of used LCV’s at auction across the board rose by 4.4% from £4,224 to £4,346 between August and September. Total sales increased from 7,101 to 7,929 units.

Both sales volume and average age rose by 1.4% in September, yet across a buoyant auction scene where conversion rates hit 73%, prices responded positively, rising by more than 4%. Increased sales of new LCVs suggest that high mileage vehicles are still in harness on extended contracts will soon have been released from fleet service.

In September the average price of an LCV sold at auction was £4,346.This showed a healthy uplift of 4.4% over the month of August. Encouragingly, improvements were recorded for LCVs of all ages with the oldest stock posting the biggest percentage gain of 15.6%.

With the exception of LCV’s aged 2 years and less, volumes increased modestly for all age bands with an overall increase of 1.4% being recorded. The expectation is that the total number of LCVs being de-fleeted will either fall or hold steady at around this level over the remainder of 2013 which should help to ensure that all used stock can be re-marketed to its full potential.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “Despite there being little relief in respect to age, mileage and volumes, overall in September, prices increased by more  than  4% which points  towards there being plenty of demand for LCVs at all ages.

“Looking forward to the first quarter of 2014, it would appear that there is little to delay further price rises being posted for the most desirable used lots. For harder used LCV’s it would seem that price levels are most likely to simply tread water which in itself would represent a good result.

“It might now be advisable for vendors to step back from the current market performance, which has admittedly been remarkably strong and take stock.”

 

ENDS

Notes for editors:

Rupal Rawal, Communications Assistant
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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