NAMA Commercial Vehicle report - December 2012

Published 17/01/2013 00:00:00 in Press Releases

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

The report shows that during December the average values of used LCV’s at auction across the board increased from £4,500 to £4,700, equivalent to a 4% increase between November and December.

Total sales fell significantly in December from 4,082 to 3,551, representing a month-on-month reduction of 13%.  This was in fact the lowest number of sales recorded in any month in 2012. Yet despite this, and the fact that average mileage was at a high point, the average overall price was just £85 below the best price achieved this year.

Current market conditions confirm the underlying strength of the used LCV market and brought a difficult 2012 to a close on a more positive note.

Although the 2013 market is difficult to predict, if the limited amount of stock that will be available over the coming months is properly presented in sensible numbers and well marketed to the right customer base, 2013 could generate some impressive returns

Whilst the majority of the market performed well in December, the under 2 years old sector suffered a small decline of 1%. To some extent, this is due to dealer’s natural reticence to hold stock over the festive period.

Above is the full year performance for prices for first time entries compared to prices at subsequent sales. Evidence shows that in general, the first bid is clearly the best bid.

Alex Wright, Chairman of the NAMA Commercial Vehicle Group commented “Whilst the prospects for sales of new light commercial vehicles remain subdued, each of the used LCV sectors look poised to perform strongly during January. However with so much uncertainty surrounding the wider economy, the 2013 market remains difficult to predict.  

“A sensible resolution for 2013 would be that best practice will consistently be followed in respect of managing every aspect of the fleet disposal process. In these challenging times, the reward for this will be that supply eases as we move into 2014 and higher prices will have been established that we can then build on.”  

ENDS

Notes for editors:

Keely Scanlan, Press Officer

Tel: 020 7307 3410

Mob: 07825097697

Press Office direct line: 020 7307 3422

Press Office fax: 020 7307 3406

Web: www.rmif.co.uk Email: keely.scanlan@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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