NAMA Market Update - October 2025: Market Shows Seasonal Softening Amid Steady Demand

“NAMA members have reported a steady October market, with relatively healthy conversion rates and continued appetite for quality stock,” said Paul Hill, spokesperson for the National Association of Motor Auctions (NAMA), commenting on the October 2025 Market Update. “While there are signs of a typical seasonal softening, values remain ahead of expectations and buyer engagement continues to be robust.”

Market Overview

October brought a slight seasonal easing in wholesale activity, with a modest increase in vehicle supply leading buyers to become more selective. Despite this, conversion rates remain strong, with some members reporting between 80–85%, and overall sentiment is positive for the time of year.
Average values have fallen by 0.8% so far this month, compared to a typical October average of –1.5%, indicating the market continues to outperform seasonal trends. Attendance at auctions remains high, with strong competition for clean, retail-ready vehicles.

Retail Trends

Retail performance remained stable following a buoyant September. The government’s EV grant drove increased online engagement and lead generation for lower-priced electric vehicles.
Used car supply has increased slightly year-on-year, while consumer demand has fallen, creating a modest negative in market health. Retail pricing remains relatively stable, with average values up around 1.3% month-to-date.”

Light Commercial Vehicles

After a particularly strong September, LCV performance in October was more mixed. While some sectors softened slightly, overall demand remained firm and conversion rates remained high – averaging late 80s to 90%.
Values for higher-mileage vans (100,000+ miles) saw sharper adjustments, while chassis cab derivatives continued to outperform due to limited availability. Around a quarter of vans on the retail market are now pre-registered, reflecting strong demand.

Electric Vehicles

BEV performance held steady in October, with three-to-five-year-old models continuing to sell fastest. Vehicles priced between £10,000–£15,000 remain the strongest-performing segment, with no negative movement in guide values.
Younger EVs (under one year) remain more challenging, with pricing influenced by ongoing new car incentives and increasing supply of pre-registered models.

Paul Hill concluded:

“October’s results show a balanced and resilient market. Seasonal softening was expected, but conversion rates, pricing and buyer activity remain encouraging. As we move toward the end of the year, members are reporting solid performance - setting a positive tone as we head into 2026.”