NEW WHOLESALE VEHICLE MARKET REMAINS STEADY IN MAY DESPITE SEASONAL SHIFTS, SAYS NAMA

“The wholesale vehicle market has continued to perform steadily through May, with conversion rates softening slightly due to seasonal factors such as the recent bank holidays, though pricing has largely held firm,” said Paul Hill, spokesperson for the National Association of Motor Auctions (NAMA), following the May market meeting for 2025.

LCV segment

The LCV market has seen a modest shift this month, with a -2% movement into June. This follows several months of stability. NAMA members report that the expected stock shortage anticipated in Q1 is now coming into fruition, with significantly less LCV stock available in May compared to April.

BEV vans remain a challenge, with movements of -3.1%, while diesel and petrol vans saw declines of -2% and -2.4% respectively. The recent Benefit-in-Kind tax changes have impacted demand for 4x4 pickups, which is expected to be reflected in this month’s values.

Overall market

The metrics and data for May 2025 show a stable market, marked by:

· Ongoing strength in petrol and hybrid sales, which continue to be the best performing fuel types. · BEV pricing down 2.1% overall, reflecting ongoing volatility across brands.

NAMA members note that Tesla models are returning in higher volumes, but with less impact than expected. Well-maintained stock continues to sell quickly, while vehicles requiring work are seeing more resistance from buyers. BEVs are gradually gaining traction in the used market, with newer models offering greater range and practicality.

Conversion trends in May have followed a similar pattern to April, with conversions down compared to Q1, while prices have remained relatively stable.

Paul Hill concluded “While there has been challenges in some areas, especially BEVs and certain LCV segments, the market remains resilient overall. The core fundamentals – strong retail interest, quality stock, and healthy buyer demand – are all still present.

"After what has been a positive year for the wholesale market so far, NAMA members remain optimistic as we approach the summer months."