Auction activity strengthens further in September

The National Association of Motor Auctions (NAMA) has published its monthly car auction data report today for September 2017.

The report shows that overall in September:

• First time conversion rates increased by 3.1% to 85.4% from August - the rate was also up 3.1% on September 2016
• Average selling value increased 13.6% from £5,188 to £5,893 from the previous month
• Average mileage went down by -3.6% to 63,289 – falling by over 4,500 miles compared to the same period last year
• The first time premium was £189 – up by £80 (73.4%) on last month, but still in line with 12 months ago when it was £180

Louise Wallis, Head of NAMA commented, “It is positive to see that auction activity strengthened further in September. 

“First time conversion rates remained strong, and the volume of cars only increased slightly during this month. Anticipated increase in stock from the plate change did not materialise or arrived late in the month which kept conversion rates and prices high.

“We expect auction activity to remain stable going into the final quarter.”