NAMA Commercial Vehicle Report - August 2013

Published 16/09/2013 00:00:00 in Press Releases

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

The report shows that during July the average values of used LCV’s at auction across the board rose by just 1% from £4,188 to £4,224 between July and August. Total sales increased 18% from 6,007 to 7,101 units.

Despite sales volumes being 18% higher, the average age and mileages for LCVs fell, whilst conversion rates held firm at 74% together with a modest uplift in prices, which by any measure represented a strong performance over this holiday period. In spite of some slow periods in August, the auction halls managed to deliver an upbeat message with plenty of positive signals coming through that bode well for market prospects in September.

 

Price Changes

 

Feb-13

% Diff

Mar-13

% Diff

Apr-13

% Diff

May-13

% Diff

Jun-13

% Diff

July-13

% Diff

Aug-13

% Diff

<2 Years

£9,385

-12%

£10,595

13%

£10,735

1%

£10,305

-4%

£9,990

-3%

£10,775

8%

£10,160

-6%

2 - 4 Years

£6,365

5%

£6,310

-1%

£6,780

7%

£6,480

-4%

£6,315

-3%

£6,200

-2%

£6,095

-2%

4.1 - 6 Years

£3,985

1%

£3,970

0%

£4,285

8%

£4,075

-4.9%

£3,925

-4%

£3,840

-2%

£3,900

2%

Over 6 Years

£2,075

5%

£1,970

-5%

£2,345

19%

£2,145

-9%

£2,070

-3%

£1,945

-6%

£1,930

-1%

 

In August, average prices slipped for 3 out of the 4 sectors, yet due to the greater size of the market for 4.1 – 6 year old LCVs (where a rise of 2% was generated) the average price across all age bands posted a small uplift. Looking ahead to the close of September when the market will have fully got back in to its stride, the expectation is for price stability with hopefully, some increases where quality is high and numbers remain low.

 

Volume Changes by Age

 

Feb-13

% Diff

Mar-13

% Diff

Apr-13

% Diff

May-13

% Diff

Jun-13

% Diff

Jul-13

% Diff

Aug-13

% Diff

<2 Years

431

18%

198

-54%

316

60%

323

2%

346

7%

335

-3%

385

15%

2 - 4 Years

1,625

-4%

2,058

27%

1,502

-27%

2,083

39%

1,706

-18%

1,538

-10%

1,197

30%

4.1 - 6 Years

2,596

18%

2,497

-4%

2,140

-14%

2,671

25%

2,104

-21%

2,097

-0.3%

2,433

16%

Over 6 Years

1,871

-0.5%

1,972

5%

2,295

16%

2,645

15%

2,099

-21%

2,037

-3%

2,286

12%

Total

6,523

6%

6,725

3%

6,253

-7%

7,722

23%

6,255

-19%

6,007

-4%

7,101

18%

 

There was an increase of volume across all years in August which partly explains why price levels for a majority of sectors were lacklustre over this holiday month. However, with so many positives emerging from this month’s data, it is clear that the underlying health of the LCV market remains robust and more than capable of absorbing those LCVs that vendors supply to it over the remainder of the year.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “Overall, the view of the marketplace for LCVs as witnessed across the nation’s auction halls in August provides a sound jumping-off point for sales of used vans and 4x4s over the autumn months. It was also positive to see conversion rates standing at 74% for the fourth month running.

“With the on-going shortages of prime stock predicted to run well in to 2014, as the UK’s economy makes steady headway and the appetite of both trade and retail customers holding firm, the direction for prices of desirable used LCV stock is on an upward trend.”

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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