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Euro 6 vans remain strong at auctions

NAMA 03/07/2019

“NAMA members expect the Euro 6 van market to stay strong as Government clean air policies encourage businesses to purchase these vehicles” said Louise Wallis, Head of the National Association of Motor Auctions (NAMA), commenting on the latest figures from NAMA’s market attitude survey. 

Findings of the latest NAMA market attitude survey show that the general feeling continues to be that the Euro 6 van market will remain strong. Nearly half of respondents (46%) expect Euro 6 van values to increase and the same percentage believe they will stay stable. By contrast, over half of respondents expect values to decline in the pre euro 6 van market.

Overall, 42% of NAMA members expect volume to remain the same as the previous month. In terms of car values, views are mixed. Exactly half of respondents expect petrol values to remain static, 29% foresee an increase in value and 21% predict a decrease. Interestingly, last month, only 13% expected petrol values to increase and 33% anticipated a decline. With regard to diesel, 57% think diesel value will remain the same, whilst the remainder expect a decline.

In line with our previous months’ findings, the vast majority of NAMA members expect values of Alternative Fuel Vehicles (AFVs) to remain stable. The percentages of those who answered AFVs’ values will ‘stay the same’ are very similar for Hybrids (77%), Plug-in Hybrids (77%) and Battery Electric Vehicles (69%).

Generally, respondents are more confident about first time conversion rates this month.  In June, 60% thought first time conversions would fall as opposed to 36% in July.  While only 13% anticipated an increase in June, this percentage has now risen to 29%.

Wallis continued, “There is more optimism about first time conversion rates. Fewer members than last month predict a decline in first time conversion rates whilst more anticipate them to remain steady or increase. This demonstrates the importance of presenting vehicles well and pricing them competitively.

“Despite softening car values, auctions are still performing well and remain the best place for buying and selling vehicles quickly and efficiently”.

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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.