NAMA Report August 2013

Published 10/09/2013 00:00:00 in Press Releases

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

The report shows that during August, the average value of used cars sold at auction across the board increased from £4,862 to £4,899. The total volume of sales rose 4% from 88,697 units to 92,255 units, driven by optimistic manufacturer, rental and dealer PX segments.

Transactional activity increased in August across all but the Fleet age segment, although this could be as a result of the especially high growth in Fleet segment volumes during the month of July. Sales conversion rates increased for the second month in a row to 79%, with both Fleet and Dealer PX segments now attaining 78%.  This robust performance puts the month at three percentage points higher than that achieved during August 2012.

Price changes August compared to July, by customer type

 

Jul-13

Aug-13

Diff %

Manufacturer/Rental

14025

14350

  2.3%

Fleet

7975

8100

1.6%

Dealer PX

2375

2375

0.0%

Small changes in price amongst the segments appear to be correlated with changes in average age and mileage by segment.  Whilst manufacturer / rental and fleet age segments saw a reduction in both, these indicators for the Dealer PX segment rose slightly.  Conversion rates rose uniformly across the age segments, providing further support for current prices.

4x4 and convertible prices during the last 3 months

 

Jun-13

Jul-13

Aug-13

Premium 4x4 SUV

19525

19050

19400

4x4 Lifestyle Cars

10125

9700

9700

Prem Upper Medium Convertibles

11525

11300

11400

General Market Convertibles

6775

6875

6300

Whilst general market convertibles have increased in value over the past few months, August appears to have been a turning point as summer draws to a close and dealers become reluctant to buy anything, except the best examples.

By contrast, seasonality does not appear to have affected sales of 4x4s. Retail demand has remained buoyant, and this appears to be reflected in Augusts’ values with a small rise in average price of premium SUVs.

Justin Lane, NAMA Chairman Comments, “Retail activity was slightly ahead of expectations in August, which comes as a surprise considering the weather and peak holiday season.  However it has been reported that the fine weather meant record numbers of UK residents holidayed at home this year and so car buying could well have received a boost from such a trend.

“The back to school trend has also offered some support to most traditional 4x4 and MPV vehicles and values have shown either stability or an upward trend.  The onset of the inclement autumn and winter weather will as usual see additional support on 4x4s.  Combined with dealer stock levels not being as high on such cars as in recent years, we expect to see values remain buoyant on much of this sector over the next 3-4 months.

“With the September plate change likely to see a strong set of new car numbers, it should not be forgotten that September is traditionally the second best used car month of the year.  There is a likelihood that dealer stock levels will be in need of replenishment during September, and with the influx of part exchanges likely to add interest, conversion rates should remain strong”.

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, 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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