NAMA Report March 2015

Published 15/04/2015 00:00:00 in Press Releases

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

The report shows that during March the average month-on-month value of used cars sold at auction across the board decreased -5.7% from £5,567 to £5,251.

Sales volumes were up by 19.1% in comparison to the February 2015 figures. This is not unexpected as stock levels increased at the auction centres in line with the March market and plate change generating part exchange vehicles and end of contract vehicles.

The percentage of vehicles sold first time during March 2015 remained static at 84% compared to February 2015, but was down by 2% on the equivalent period in 2014 at 86%, although the numbers sold were greater than 2014 figure.

The price premium for vehicles sold first time remained static at £350 and the average days on site decreased to 6.8 days.

Sale Price by Age Profile in March 2015 compared to 2014

 

2014

2015

Diff %

Late & Low

£14,725

£14,300

-2.9%

Fleet

£8,675

£8,825

1.7%

PX (Young)

£5,250

£5,600

7.6%

PX (Old)

£2,450

£2,675

9.1%

Budget

£750

£850

13.35%

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

Average sale prices other than late low have increased as the used retail market has remained buoyant throughout March 2015.

Paul Hill, NAMA Chairman Comments, “March 2015 has been a spectacular month for the new car market – marking the 37th month of consecutive growth in new car sales delivering 492,774 units up 6.0% on March 2014. It is also the best month since the twice yearly number plates were introduced in 1999.

“New products and attractive finance packages underpinned by low interest rates have all helped in delivering the best month this century.

“At a wholesale level values were strong for the month of March despite being a plate change month. However, indications are that stock numbers are building at the auction centres in early April as part exchange and end of contract vehicles become available for sale.

“A strong March on the plate change will inevitably mean more part exchange vehicles with the dealer networks and increased used stock at the auction centres from end of contract vehicles, part exchange cars and overage units. Therefore it is highly likely that this set of circumstances will have a negative effect on the average price achieved.”

 

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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