NAMA Report January 2015

Published 16/02/2015 00:00:00 in Press Releases

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

The report shows that during January the average month-on-month value of used cars sold at auction across the board increased 2.8% £5,670 to £5,828. This is 7% higher than the same period in 2014. The increase in sale value would reflect the quality of stock available in the New Year.

Sales volumes for the late low sector in January 2015 increased by 74% from 6,746 units to 11,835 units.  In addition PX Profile (Young) saw a fall from 16,228 units for January 2014 to 11,169 units in January 2015.

The volume of vehicles sold first time during January rose from 73% in December to 80% in January - which was slightly behind the 82% seen during January 2014.

The price premium for vehicles sold first time round in January 2015 increased by £75 to £275 over the December figure, and the average days on site increased to 12.0 days.

Sale Price by Age Profile in January 2014 compared to 2015

 

2014

2015

Diff %

Late & Low

£14,250

£15,225

6.8%

Fleet

£8,450

£8,850

4.7%

PX (Young)

£5,300

£5,800

9.4%

PX (Old)

£2,475

£2,850

15.1%

Budget

£825

£925

12.1%

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

The average sale price increased on lower sales volume in January in all sectors.

This suggests that there have been fewer vehicles available for sale during January 2015. Given the slightly lower conversion for January 2015 compared to the same period 2014 this would indicate some dealers are prepared to pay more for some stock but may still be choosey if they have stock and are buying to fill spaces where stock has sold.

Paul Hill, NAMA Chairman Comments, “Following on from the new car market finishing at 2.476 million units in 2014, this month has shown a strong start to 2015 delivering a 6.7% increase on January 2014 with 164,856 units - best start to a year since 2007. This means the period of record market growth has reached its 35th consecutive month.

“There has however been a fall in retail sales by 5.1% which is the first fall in four years. Company car registrations have masked this fall with an 18.1% increase in registrations for January 2015.

“To sum up, February should remain a strong retail month for used cars as orders build for delivery during the next plate change, but may run behind previous years as incentives attract retail buyers into potentially late low mileage and new vehicles. We should however be thinking ahead as PCP returns are coming and they have the potential to change the look of the wholesale and retail used car landscape.”

 

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 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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