NAMA Commercial Vehicle Report – September 2015

Published 13/10/2015 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 the average value of used LCV’s at auction across the board increased 1.5% from £4,770 to £4,843 in September. Volumes saw a 16.9 decrease, and the average mileage of LCV’s fell -1.2% to 77,918.

Price Changes by age

The average price for vehicles under 2 years of age fell by 1.2% in September, this despite having on average, almost 20% less miles. Feedback from dealers and traders suggests that there is a growing lack of interest towards late plated units, with the price gap between late year used and new narrowing due to very competitive deals currently in the market.

Volume Changes by Age

As expected sales volumes bounced back in September from the lows seen in August, with an overall increase of 16.9% to 10,219 units. Sales of units of an age that would normally be associated with fleet change cycles saw significant growth from last month, rising by almost 32% which was broadly in line with sale volumes observed during the last plate change period in March.

Alex Wright, NAMA LCV Chairman comments, “First time conversion rates have been volatile this year, with volume playing a major part. With the influx of units following September’s plate change beginning to have an impact it is perhaps surprising to report that first time conversion rates in September were reasonably strong at 78.2%.

“Whilst this represents a fall of 1.5% on the same period last year, it is almost 5% up on last month. Clearly there is significantly more volume around but there is also notable demand from the trade as sales volumes exceeded this period last year by 28%.

“With volumes ordinarily expected to remain high throughout October, auction sites will be hoping for a continuation of the buoyant activity recently seen in order to avoid a build-up of unsold units as we enter what is typically a slow period of the year in November and December.”

 

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.

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