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April marks strong month for auction activity

NAMA 18/05/2018

The National Association of Motor Auctions (NAMA) has published its monthly car auction data report today for April 2018.

The report shows that overall in April:

  • First time conversion rates decreased by -3.3% to 80.5% from March
  • Average selling value was up 3.0% from £5,512 to £5,677 from the previous month, and was up a positive 12.9% from last April’s figure of £5,027
  • Average mileage was down by -1.5% to 65,379 from March, however was up by 1.4% on the same period last year
  • The first time premium was £33, down -25% on last month’s figure of -£44

Louise Wallis, Head of NAMA commented, “Whilst auction activity was buoyant in April, demand began to weaken as the month progressed, which was in line with expectations for this time of year.

“Good wholesale prices led to well stocked forecourts, and having held up well so far this year, auction hammer prices began to soften with evidence that vendors who chose to hold out for the strongest prices, experienced a drop in conversion rates.

“However, rates were stronger than last year where we saw an unusual amount of cars hit auction channels as a result of changes to new car VED rates.

“With the outlook for auction activity looking positive over the coming months, it will be interesting to see if the market holds up with our expectations.”

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Notes for 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.