The National Association of Motor Auctions (NAMA) has published its monthly car auction data report today for May 2017.
The report shows that overall in May:
First time conversion rates decreased by -1.2% to 74.1% since April - the rate was up by 0.9% on the same period last year
Average selling value increased 3.0% from £5,027 to £5,176
Average mileage went down by -0.1% to 64,379
The first time premium was £61 – down by £30 (-33.0%) on last month, and down by £143 (-70.1%) on the same period last year.
Louise Wallis, Head of NAMA commented, “Activity in the auction market throughout May continued to be challenging.
“High stock volumes and a lack of desire from buyers to pay what many consider to be above market prices for average stock, has led to a further weakening in conversion rates.
“With the summer months among us, we are keen to see the auction market stabilise.”
Notes to editors:
The full NAMA Car Auction Report is available from the RMI press office on request.
About the RMI
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.