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Auctions are doing well and open for business, says NAMA

NAMA 19/05/2020

“Motor vehicle auctions are open for business online and are seeing good levels of sales activity,” said Louise Wallis, Head of the National Association of Motor Auctions (NAMA).

Although auctions were amongst the businesses that needed to close due to government restrictions, they have been able to operate online sales offering a valuable service to fleet companies and dealerships wanting to sell and buy stock.

Auctions have been able to accept sale stock and deliver vehicles to customers after purchase. This activity has been supported by other remarketing facilities such as inspection and grading that has been able to carry on.

Auctions have been able to continue operating their sites, though they are closed to the public, following the implementation of stringent hygiene and social distancing procedures.

Wallis continued, “Motor Auctions have seen a steady increase in business over the past few weeks as their customers begin to look at reopening their businesses as the lockdown begins to ease.  Dealers are looking to buy stock for their forecourts and fleets have been able to dispose of vehicles to free up working capital.

“Motor Auctions have been shown to be resilient despite the difficult conditions and have been adaptable in finding ways to maintain operations to serve customers under the lockdown. 

“The continued operation of auctions is vital in supporting the whole automotive supply chain and to assist getting the economy moving again.”

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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.