NAMA REPORT APRIL 2015

Published 15/05/2015 00:00:00 in Press Releases

The National Association of Motor Auctions (NAMA) published its monthly market report  for April. 

The report shows that during April, the average value of used cars sold at auction across the board decreased 5.0% to £5,228 from £5,251 in April 2015.

Despite the Easter break, volumes were only down 3.0% and from 109,271 in April 2014 to 118,861 in April 2015 ahead more than 9% on a seasonally adjusted basis.

First time conversion rates showed a decline from £350 in March 2015 to £325 in April 2015.     

 

Price changes in March compared to February, by customer type

 

Apr-14

Mar-15

Diff %

Late & Low

£14,900

£14,450

-3,0%

Fleet

£8,975

£9,200

+2,5%

PX (Young)

£5,425

£5,925

+9,2%

PX (Old)

£2,575

£2,850

+10,6%

Budget

£775

£850

+9,6%

NOTES:    Late & Low are cars from: 0 - 2.5 Years

Fleet are cars from: 2.6 – 4.5 Years    PX (young) are cars from: 4.6 – 6.5 Years

PX (Old) are cars from: 6.6 – 10.5 Years     Budget: >10.5 Years

 

Paul Hill, NAMA Chairman comments: “We see positive results for the new car market in April 2015, with it up being 5.1% up on last year’s results, with 184,778 units being delivered.”

“March with its plate change gave an increase in the volume of units being offered through the auction lanes with dealer part exchange and corporate vehicle returns being in greater supply than in previous months. New products, attractive finance packages and low interest rates have yet again given the new car market a massive boost which in turn is providing volume increases for the auction sector”

Hill continues: “Because of the plate change in the prior month we see an increase of exchange of vehicles within the dealer networks. This has led to an increased stock of used vehicles in auction centres.”

“The forecast for the coming months is positive; there is continued economic recovery ensuring any increased supply has been met with a sensible level of demand, used vehicle supply will now fall back slightly over the summer months which in turn will ensure conversion rates remain strong, the only factor to keep a watch on is the volume of 2 – 3 year old PCP returns which may affect the price performance of certain sectors within the market.”

 

ENDS

NOTES TO EDITORS:

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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