WHOLESALE MARKET CONTINUES MOMENTUM IN FEBRUARY, SAYS NAMA

"After a strong start to the new year, the market remains healthy in February, with NAMA members across the country expressing a shared positive outlook” said Paul Hill, spokesperson for the National Association of Motor Auctions (NAMA) following the February market meeting for 2025.

LCV segment

NAMA members continue to report a mixed performance in the LCV segment, though it remains stable. Observations include an increase in market stock compared to 2021-22, while vehicles with over 75,000 miles are seeing a slight decline in performance. Concerns also remain regarding the upcoming changes to Benefit-in-Kind tax treatment for double cab pick-up trucks in April.

Overall market

The metrics and data for February 2025 present a positive outlook, including:

• A strong retail market with search activity up 5% on February 2024.

NAMA members have expressed overall satisfaction with the year’s start. Overall price performance has grown by 0.3%, with the strongest performance increases seen in vehicles priced up to £10,000. BEVs continue to show slight weakness, down -0.2%, with some older EV models underperforming and newer EV models facing discount pressures. Petrol vehicles are up 0.6%, with small petrol cars being the most in demand, while the supply of 3-5 year-old vehicles remains challenging. NAMA members also report good conversion rates for this time of year. 

Paul Hill concluded “Conversion rates and overall market sentiment remain strong for this time of year, though the LCV segment continues to show mixed performance.

“BEVs continue to face some pressure, down -0.2%, while the supply of 3-5 year-old vehicles remains challenging.

“Overall, NAMA members are reporting a strong start to the year. It is encouraging to see that the market is in a healthy position, with forecasts for March and April also remaining positive.”