NAMA Commercial Vehicle report – September 2014

Published 16/10/2014 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 increased by 0.8% from £4,645 to £4,967 between August and September. Volumes saw a -3.2% decline, and the average age of LCV’s sold at auction rose to 65.4 months.

The average number of days that LCVs remained on site went down to 12.9 days, and the average mileage increased from 81,521 to 82,147 miles.

The average price paid for an LCV in September stood at £4,967 which represents an uplift of more than 14% over the same month last year.

The total number of LCVs sold at auction in September decreased by 265 units and now stands just 0.78% above the comparable figure for this same month in 2013.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “With increases in both average age and mileage doing little to hinder LCV prices moving higher, the figures in September make for impressive reading. There were welcome falls in both the number of days an LCV remained on site and entries taken to achieve a sale. Notably, a 4% improvement in the number of lots selling at the first time of asking underscored the benefits to be gained when reserve prices are set at realistic levels.

“Within this robust marketplace, there is undoubtedly a high level of demand for most types of LCVs which bodes well for the closing months of 2014. However, with manufacturers continuing to offer big discounts on new vans and pick-ups, trade buyers are wary of holding too much expensive, late year stock.

“Provided that the UK’s economy continues to avoid the worst of the financial turmoil being experienced across the channel, demand for both new and used LCVs is expected to hold firm into 2015.”

 

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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