The National Association of Motor Auctions (NAMA) has published its monthly car auction data report today for February 2017.
The report shows that overall in February:
First time conversation rates increased by 2.6% to 83.4% - the rate was down by -0.5 on the same period last year
Average selling value decreased -4.8% from £5,296 to £5,041
Average mileage went up by 2.3% to 66,811
The first time premium was £74
Louise Wallis, Head of NAMA commented, “Wholesale activity in February was buoyant. It was clear that the excess volumes experienced in January had largely washed through auction centres.
“Whilst there was no shortage of stock, demand led to an increase in conversion rates.
“The following weeks will see large numbers of part exchange vehicles entering the market following the plate change in March. The current demand for cars should allow these vehicles to be absorbed by the market as they are bought to supply dealer forecourts to fulfil consumer demand.
“We now look forward to seeing what the first quarter of 2017 brings.”
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.