NAMA Report May 2013

Published 13/06/2013 00:00:00 in Press Releases

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

The report shows that during May, the average value of used cars sold at auction across the board decreased from £4,860 to £4,772. The total volume of sales strengthened by 13%, from 90,645 units to 102,860, despite two public holidays during the month.

Transactional activity increased substantially in May across all segments, although the largest increases were seen in the Manufacturer/Rental and Fleet segments. The only age bracket that saw a decline in volumes was 0.5 years or less, which was expected at this time of year due to the recent plate change.

 

Price changes May compared to April, by customer type

 

Apr-13

May-13

Diff %

Manufacturer/Rental

13975

13725

  -1.8%

Fleet

8050

8075

0.3%

Dealer PX

2425

2450

1.0%

 

The Dealer PX segment was up 1.0%, in terms of volume and average price. This was a direct result of the high volume of new car sales to the private buyer which generates plenty of part exchanges, most of which need are not of franchised retail standard and therefore need to go to auction.

 

4x4 and convertible prices during the last 3 months

 

Mar-13

Apr-13

May-13

Premium 4x4 SUV

20525

20950

19750

4x4 Lifestyle Cars

10250

10200

10075

Prem Upper Medium Convertibles

11425

11550

11375

General Market Convertibles

6200

6475

6600

 

Prices for the premier upper medium convertibles declined this month and the overall values of the convertible sector remain far below values attained in 2012. 4x4 values have not declined as much with the onset of summer as in previous years. The only logical explanation to this is the inclement weather and this is unlikely to receive a boost as most sources suggest unease over the summer weather forecast.

Justin Lane, NAMA Chairman Comments, “Overall sales volumes across the month were stronger than expected despite the double bank holidays. The fact that overall conversion rates fell during May is not that surprising, although the current level of 74% on average remains higher than it did this time last year. 

“Over the next 6 to 8 weeks, we anticipate the focus will be in both the new and used sectors on family orientated vehicles. Small cars will also remain popular, and we can expect to see a noticeable drop in demand for convertibles as the trade perceives the market will have ended.

“The finance deals on offer in the new car market will continue to have an effect on the late plate used car market. We have already seen evidence of this in recent months where deals have tempted used buyers into a new car. However, this has resulted in a negative impact on the late plate used values which have in some cases stalled.

“The poor quality of cars at auction also looks set to continue. Trade buyers will be looking to buy the poor condition cars at an advantageous price so they have the money to then properly and safely prepare these examples for sale which means vendors will also be under pressure to keep the stock moving”.

 

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.

Keely Scanlan, Press Officer
Tel: 020 7307 3410
Mob: 07825097697
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web:
www.rmif.co.uk Email: keely.scanlan@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.

Back to Articles
Back to Articles

Cookies

This site uses cookies. Some cookies are essential to ensure our website works for you in the best possible way. You may delete and block all cookies from this site, but parts of the site may not work. To find out more about cookies on this website and how to delete cookies, click here to see our cookie statement.

Close