The National Association of Motor Auctions (NAMA) has published its monthly car auction data report today for August 2017.
The report shows that overall in August:
First time conversion rates increased by 3.1% to 82.3% from July, the rate was also 4.6% higher than in August 2016.
Average selling value were 7.5% higher than August 2016, rising from £4,824 to £5,188
Average mileage went up by 1.1% to 65,654
The first time premium was £109 – up by £43 (+65.2%) on last month
Louise Wallis, Head of NAMA commented, “It is positive to see that the auction market strengthened again in August.
“First time conversion rates at 82.3% were higher than the same period last year, however, sold volume was fairly similar, meaning that there was less stock available in the month this year.
“Hammer prices remained high in August due to demand exceeding supply. As we enter the plate change month, supply shortages are likely to ease, although demand is expected to remain high, particularly, for clean low mileage petrol vehicles.
“We expect overall auction activity to remain stable in the forthcoming months.”
NOTES TO EDITORS:
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.