NAMA Report June 2013

Published 11/07/2013 00:00:00 in Press Releases

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

The report shows that during June, the average value of used cars sold at auction across the board increased from £4,772 to £4,828. The total volume of sales declined by 19%, from 102,860 units to 83,637 units, although the Manufacturer/Rental age segment fared slightly better, declining 15% to 8,717 units.

Conversion rates continued their slide during June although, at 72%, it is likely that we have reached the seasonal low point for the year. These low conversions are due in many cases to vendors being unwilling to let a vehicle sell and realise a low percentage return against the valuation guides. 

Price changes June compared to May, by customer type

 

May-13

June-13

Diff %

Manufacturer/Rental

13725

13700

  -0.2%

Fleet

8075

8050

-0.3%

Dealer PX

2450

2450

0.0%

Conversion rates and volumes fell across the board, however prices remained steady through all age segments. This is probably down to the effect that vehicle condition and associated refurbishment costs have on the buyers remit when attending sales. In addition, there appears to be a lack of variety in the market and high trim levels are selling for strong money which helps to boost the average prices achieved.

4x4 and convertible prices during the last 3 months

 

Apr-13

May-13

Jun-13

Premium 4x4 SUV

20950

19750

19525

4x4 Lifestyle Cars

10200

10075

10125

Prem Upper Medium Convertibles

11550

11375

11525

General Market Convertibles

6475

6600

6775

Whilst convertibles have increased in value over the past few months, they remain far below those attained in 2012, particularly amongst premium variants. 4x4s have retained their popularity, especially “lifestyle” variants. This is undoubtedly due to the unpredictable weather experienced so far this year.

Justin Lane, NAMA Chairman Comments, “Transactional activity decreased substantially in June across all segments, although the youngest vehicles fared marginally better. However, volumes remain up on last year, coming in at 16 per cent higher than June 2012.

“It is evident the retail market has now shifted down a gear with both franchised and non-franchised dealers reporting lower sales and a significant downturn in footfall.

“Dealers are finding the used car market increasingly tough with the conditions of vehicles available at auction in poorer conditions, meaning higher reconditioning costs at a time when customer footfall has shown signs of decline.

“Over the coming weeks, we expect to see an increase in interest in MPVs and family cars, but at the expense of the Premium cars. Convertible sales will also decline and 4x4 buyers will begin looking for summer bargains in preparation for Autumn.”

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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