NAMA LCV Report

Published 23/09/2015 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 the average value of used LCV’s at auction across the board increased 1% compared to July 2015. Volumes saw a -16.8 decrease compared to last month, and the average mileage of LCV’s fell below 80,000 miles for the first time this year.

The average price across the LCV sector of the market increased by 1% in August to £4,771. This is the second highest value this year, beaten only by the average prices that were achieved in January, which is typically expected to be a strong month.

Average values of vehicles up to 2 years of age increased in August by 2.3% to £11,620 which is £1,200 up on August last year across a similar volume, although based on a slightly lower average mileage.

August is a month that sees a reduction in fresh fleet entries with many contract hire and leasing change cycles set up to coincide with the plate change in September.

This August was no exception and as a consequence volumes sold fell to the lowest point this year, down 16.8% on last month. The general trend that is emerging however, of year on year increases in auction volumes, is again reflected with a 6% increase in volumes sold in August versus this time last year.

Alex Wright, NAMA LCV Chairman comments, “August was a steady month in the LCV market and trends are beginning to get back to normal. 

“It is also positive to see that vehicles in the age 6+ category are no longer the largest. All extended contract utility vehicles are coming to an end and we are now seeing a welcome rise in volumes for the 2-4 year age group.

“It is also worth looking at how much more volume is in the market compared to 3 years ago - yet prices remain higher. It will be interesting to see if this can be sustained.”

 

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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