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Press Releases

  • 2017
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NAMA CAR AUCTION REPORT DECEMBER 2016

Published 20/01/2017

The National Association of Motor Auctions (NAMA) has published its monthly car auction data report today for December 2016.

The report shows that overall in December:

  • First time conversation rates decreased by -0.4% to 78.8% - however were still up 2.5% on the same period last year
  • Average selling value increased 2.0% from £5,370 to £5,477
  • Average mileage went down  for the 4th consecutive month by -1.4% to 63,830
  • The first time premium was £63 – down by £17 (-21.3%) on last month, and down a massive £266 (-80.8%) on the same period last year

Louise Wallis, Head of NAMA commented, “Wholesale activity in December was at times challenging when compared to the last few months of 2016 where auction activity was strong.

“Some vendors chose to hold back in December and opted to wait for better trading conditions in January. This expectedly affected the mix on offer, and ultimately the overall market performance. 

“We now look forward to seeing what the 2017 auction market now has in store.”

 

ENDS

Notes for editors: The full NAMA Car Auction report is available from the RMI press office on request.

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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RMI WARNS AGAINST UNNECESSARY MOT EXTENSION

Published 23/01/2017

The Department for Transport (DfT) has released a consultation seeking views on whether the age a vehicle gets its first MOT should be increased from 3 to 4 years, and the Retail Motor Industry Federation (RMI) is warning motorists that the proposed changes will be more detrimental to consumers overall.

The DfT are proposing three options:

  • Option 1: No change, maintain the current period for vehicles requiring a first MOT at three years
  • Option 2: Extend the first MOT for all vehicles currently requiring an MOT at three years, to four years
  • Option 3: As Option 2, excluding vans in classes 4 and 7, where we will maintain the current MOT three year first test timing

The Government preference is for either option 2 or 3, however the RMI is strongly in favour of option 1.

Stuart James, RMI Director comments, “This is an unnecessary consultation and there are a number of reasons why the benefits promoted by government are seriously outweighed by the pitfalls. At the three year period alone this change will see 400,000 unroadworthy cars on the road for another 12 months and no official mileage recorded until year 4.

“Although modern cars are better built than ever before, factors such as the condition of Britain’s roads combined with high mileages mean that modern cars should be checked more often but in many cases go for many months or even years without being seen by an industry professional.

“This proposal would, without doubt, cost consumers more in repair costs, incentivise “clockers” and be detrimental to the UK’s excellent road safety record for no particular gain.”

The RMI is part of ProMOTe, a broad‐based coalition representing road safety groups, motoring organisations and industry bodies and all are opposed to this proposal. Motorists should visit www.promote.org.uk to read about the dangerous, expensive and unnecessary implications of delaying a vehicle’s first MOT, and can reply to the consultation at: www.gov.uk/government/consultations/extending-first-mot-date-to-4-years.

 

ENDS

NOTES TO EDITORS: Stuart James, RMI Director, is available for interview.

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk Email: rupal.rawal@rmif.co.uk

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.

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AUCTION MARKET ENDS ON HIGH FOR 2016

Published 31/01/2017

“Following what could be described as an uncertain political and economic climate, 2016 marked a strong performance from the UK motor auction sector”, commented Louise Wallis, Head of The National Association of Motor Auctions (NAMA).

2016 saw record used car sales of 7.7 million and this translated into a very busy year for auctions, as dealers bought cars to fill forecourts to meet consumer demands.

NAMA saw an increase in auction sale values of 3.6% over the year, with the late and low sector performing particularly well with a 4.2% increase to £13, 049.

Wallis continued, “Although the average sales value in December was up by 2% from November to £5.477 in 2016, there is still speculation that activity in 2017 will become more challenging.

“Currently the economy continues to do well with record low unemployment, and strong GDP growth, although inflation is beginning to rise. This has encouraged both consumers and businesses to spend - however, any changes to this over the coming months could have an impact on the used car market.

“We will continue to urge the Government to ensure that the economy remains buoyant in the wake of political uncertainty from the Brexit it vote.

“We look forward to seeing how 2017 develops, and hope it will be another strong and positive year for auctions.”

 

ENDS

Notes For Editors:

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA WELCOMES CHANGES TO LOGBOOK LOAN REFORMS

Published 09/02/2017

“We are pleased to see that the government is to reform the legislation that governs logbook loans”, commented Louise Wallis, Head of The National Association of Motor Auctions (NAMA).

Logbook loans are where a consumer takes out finance on their car securing the loan on its V5 or logbook. These are not traditional consumer credit arrangements, but fall under the Bill of Sale legislation.  The Bill of Sale is an archaic piece of legislation that dates back to the 19th century and is no longer appropriate for modern use.

Wallis continued, “Logbook loans have been problematic for the auctions and dealers, as well as consumers. Unlike consumer credit, the loans do not have to be settled when the car is sold, and means the new owner of the vehicle can be made to pay any outstanding debt - even if they have not taken out the loan.

“Unlike vehicle finance, these loans do not have to be registered with the credit reference agencies, and so will not show up when a vehicle date check is carried out. This has meant that sellers are unwittingly selling vehicles with un-cleared finance to consumers. 

“NAMA has campaigned for many years for a change in this law, and the government is now acting to introduce a new type of loan called a ‘vehicle mortgage’. These will have to be registered with credit agencies, giving sellers better protection. Furthermore, a consumer who unfortunately buys a vehicle with one of these loans will not be liable to the debt from a previous owner.”

 

ENDS

Notes For Editors:

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA CAR AUCTION REPORT JANUARY 2017

Published 20/02/2017

The National Association of Motor Auctions (NAMA) has published its monthly car auction data report for January 2017.

The report shows that overall in January:

  • First time conversation rates saw an increase of 2.0% on December to 80.8%, but were 1.3% lower than in January 2016
  • Average selling values were up 3.0% compared to January 2016, from £4,980 to £5,296
  • Average mileage was 2.3% higher than in December, but almost 4,000 miles (-5.8%) lower than in January 2016
  • There was no first time premium

Louise Wallis, Head of NAMA, commented, “In January, wholesale activity appeared to be strong with a very high overall first time conversation rate.

Some vendors seem to have held stock back in December to benefit from better prices in January. This would explain the increase in volume, although it did not help prices in the short term.

Positively, towards the end of the month prices began to strengthen and performances improved, we now expect the activity to remain buoyant throughout February.”

 

ENDS

Notes for editors: The full NAMA Car Auction report is available from the RMI press office on request.

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA CAR AUCTION REPORT FEBRUARY 2017

Published 23/03/2017

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.”

 

ENDS

Notes for editors: The full NAMA Car Auction report is available from the RMI press office on request.

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA CAR AUCTION REPORT MARCH 2017

Published 19/04/2017

The National Association of Motor Auctions (NAMA) has published its monthly car auction data report today for March 2017.

The report shows that overall in March:

  • First time conversation rates decreased by -0.1% to 83.3% from the previous month and down by -0.3% on the same period last year
  • Average sales value increased by 0.1% compared to last March from £4,959 to £4,965
  • Average mileage went down by -4.1% to 66,469
  • The first time premium was £83

Louise Wallis, Head of NAMA, commented, “The Wholesale market started the month buoyantly with high conversion rates and strong sales values. During the month, more stock arrived at auction which was generated from strong new car sales and the March plate change. This resulted in slightly weaker conversion rates and prices than at the start of the month.

Overall conversion rates for the month were only marginally lower than February and sales values were marginally better than last March.  This suggests the market is still performing well and coping with the recent increase in cars coming through the auction halls.”

 

ENDS

Notes for editors: The full NAMA Car Auction report is available from the RMI press office on request.

James Waring, RMI Press Department
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: james.waring@rmif.co.uk

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.

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NAMA COMMERCIAL VEHICLE REPORT – DECEMBER 2015

Published 14/01/2016

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for December today.

The report shows that the average value of used LCV’s at auction across the board decreased -2.4% from £4,921 to £4,803 in December.  Volumes in December reduced by -33.5% from November to 6167 units and although it was the lowest month in volume terms for the year it was 35% higher than December 2014. The average mileage of LCV’s was up 3.3% to 83,288.

The average hammer price fell by -2.4% to £4,803 bringing to an end 7 months of consecutive increases. It is also down on the average selling price from December 2014 by -5.7%

As is expected in December, sales volumes reduced across all age ranges as a result of reduced auction sale schedules, a reduction in fresh entries and normal seasonal changes in buyer demand, with only the best units on offer, being sought after. Whilst sales volumes were down by -33.5% compared to November, they increased by 35% over December 2014.

Alex Wright, NAMA LCV Chairman comments, “Whilst sales results in December were traditionally low due to a combination of factors including a drop in fresh entries and a reduced number of scheduled auction sales, the end of 2015 proved to be an outstanding year with a 35% increase over December 2014.

“An increase in average age to only drop 5% in values is also a strong indication into the strength of the economy and the market.

“Generally we tend to see vendors hold back volume in the December market as they have fear of buyer demand dropping. However, in2015 there was little doubt the strong buyer base was standing in the hall and clicking on line eager to stock up.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA REPORT DECEMBER 2015

Published 14/01/2016

NAMA Report December 2015

The National Association of Motor Auctions (NAMA) published its monthly market report today for December 2015.

The report shows that the average sales price in December decreased by -1.8% from £5,637 in November 2015 to £5,534. Compared to December 2014 there was also a fall of 2.4% from £5,670.

Sales volumes for December fell by 30.9% in comparison to November 2015. Year-on-year vehicle auction sales have risen by 26.0%, from 55,625 in December 2014 to 70,063 in December 2015.

The percentage of vehicles sold first time in December remained static in comparison to November at 77%. In comparison to December 2014 however, the first-time conversion rate increased by 4% points from 73%.

The price premium for vehicles sold first time increased from £200 to £225, and the average days on site increased to 8.8 from 8.4 days.

Sale Price by Age Profile in December 2015 compared to December 2014

 

2014

2015

Diff %

Late & Low

£15,825

£13,700

-13.4%

Fleet

£8,375

£8,650

+3.3%

PX (Young)

£5,825

£5,775

-0.9%

PX (Old)

£2,825

£2,850

+0.9%

Budget

£900

£900

0.0%

Two out of five market sectors saw a marginal sales price growth on the equivalent month in 2014 with the budget sector remaining static. Late and Low fell by 13.3% continuing the downward trend. The number of budget vehicles sold in auction shows no sign of reducing and represented 32.7% of all cars sold in December compared to 29.8% in December 2014.

Paul Hill, NAMA Chairman comments, “At the wholesale level, first-time conversion in December 2015 rose again in four of the five market sectors compared to November 2015 despite a 26% growth in sold units compared to December 2014.

“The only sector registering a fall in first-time conversion was Late and Low, dropping by 0.8% from 72.7% to 71.9%. As with other months an increasing new car market has brought with it a significant uplift in the number of used vehicles returning to the wholesale market, many of which were sold in December to eager buyers. As forecast in previous reports, fleet vendors have seen their numbers returning increase, with sales volumes up 33.4% in December 2015. Notwithstanding the holiday period, it has been a very successful month for the auction houses.

“Despite a large amount of volume being sold in December, January has seen significant numbers of vehicles available from the first sale on 4 January. Fleet returns continue to arrive on sites in good numbers, combined with part exchange and overage stock which will ensure healthy choice for buyers at a point in the year where demand is likely to be very strong.

“Values for January 2016 are not forecast to be higher than January 2015 and are more likely to fall slightly compared to the equivalent period last year. Unseasonal weather and the feel good factor have kept the footfall high for most marques in the showrooms in December. Higher stock levels at auction combined with manufacturer ‘fast start’ campaigns in the retail sector may impact prices throughout the month and through the first quarter of 2016.”

 

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA COMMERCIAL VEHICLE REPORT – JANUARY 2016

Published 12/02/2016

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for January today.

The report shows that the average value of used LCV’s at auction across the board increased 3.1% from £4,803 to £4,950 in January.  As expected sale volumes increased 58% in January compared to the low point of December – however was only up 0.1% over January last year. The average mileage of LCV’s by almost 4,000 miles to 79,428.

The average hammer price at auction in January was £4950 - an increase over December of 3.1%. The average value of units less than 2 years of age increased by 7.3%, and whilst there was a small retraction for units between 2 - 4 years of age, twice as much volume was sold.

Sales volume increased by 58% in January when compared to December, which is perhaps an unfair comparison taking account of December being a short month for auction sales. Interestingly when comparing against January last year, volumes are only up by 0.1% which is the first time in recent years that volume has not substantially increased.

Alex Wright, NAMA LCV Chairman comments, “Demand in January was reasonably strong due in part to shortened auction programs in December.

“Values held up well for vehicles presented in reasonable order, complete with a full service history and anything with carlike specification or a higher horsepower performed strongly.

“Despite there being significant volumes of vans in a less than desirable condition, average conversion rate sat at a very healthy 78.3% which is 2.7 percentage points higher than in 2015.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA REPORT JANUARY 2016

Published 12/02/2016

The National Association of Motor Auctions (NAMA) published its monthly market report today for January 2016.

The report shows that the average sales price in January increased by 1.7% from December 2015 to £5,689 from ££5,534. Compared to January 2015 there was also a 1.7% rise in the average sale price from £5,592.

In line with market seasonality sales volumes for January 2016 increased by 57.5% to 110,322 from 70,063 in December 2015. Year on year vehicle auction sales fell by -0.5% to 110,322 compared to this period last year. 

The percentage of vehicles sold first time in January increased in comparison to December by 2% from 82% to 84%. In comparison to January 2015 the first time conversion rate also increased 2% from 82%.

The price premium for vehicles sold first time increased from £225 to £300, and the average days on site increased to 12 from 8.8 days.

Sale Price by Age Profile in January 2016 compared to January 2015

 

2015

2016

Diff %

Late & Low

£14,700

£14,025

-4.6%

Fleet

£8,650

£8,775

+1.4%

PX (Young)

£5,700

£5,775

+1.3%

PX (Old)

£2,800

£2,900

+3.5%

Budget

£900

£925

+2.7%

Four out of the five market sectors saw a marginal sales price growth on the equivalent month in 2015 with the budget sector increasing again. The late and low sector fell by -4.6% continuing its downward trend since October last year. This fall however can be attributed to the model mix available at auction in this sector with an increase in the smaller, lower value vehicles.

Paul Hill, NAMA Chairman comments, “At a wholesale level first time conversion rose for all five market sectors in line with the January seasonal start to the New Year. Fleet vendors had a notable start to 2016 with large available stock levels at wholesale, combined with dealer part exchange and overage inventory.

“February volumes are expected to fall, with less volume available for sale from the fleet vendors ahead of the 16-plate change in March.

“Average values in January rose and are forecast to continue to do so through February in line with reduced stock numbers during the month. The plate change will bring with it increased volumes of wholesale stock and combined with an early Easter values are forecast to fall.”

 

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA RECEIVES OUTSTANDING CONTRIBUTION TO THE MOTOR INDUSTRY AWARD

Published 11/03/2016

The National Association of Motor Actions (NAMA) received the award for ‘Outstanding Contribution to the Motor Industry’ at last night’s Institute of the Motor Industry (IMI) Annual Dinner.

NAMA has been recognised for its vehicle grading scheme which was developed to enhance transparency and make it easier for auction buyers to select the vehicles they want to buy, and in particular the NAMA Vehicle Appraiser Training Course. The course is accredited by the IMI and is designed to train members to standardise vehicle appraisals throughout the UK Motor Industry. NAMA has trained over 500 appraisers so far.

Louise Wallis, Head of NAMA commented, “On behalf of NAMA we are honoured to have received this prestigious award.

“The Automotive Retail Industry is one of the fastest moving in the UK and we have developed these schemes in order for industry professionals to increase their productivity and take pride in their career and industry.”

 

ENDS

NOTES TO EDITORS:

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA AGM RAISES £11,200 FOR BEN

Published 16/05/2016

“This year’s NAMA AGM was a highly informative and well received meeting,” said Louise Wallis, head of the National Association of Motor Auctions (NAMA), commenting on the event which was held in Marbella, Spain.

The meeting, which took place on 14 May, discussed a number of key industry issues, such as grading and current market conditions and saw the participation of several members and experts from the industry; including representatives from the American NAAA - National Auto Auction Association. A charity auction in aid of BEN - the automotive industry charity also took place following the AGM, raising a phenomenal £11,200.

Wallis continued, “We were pleased to welcome our American counterparts from the NAAA, who gave us an interesting insight into US auctions and their health and safety issues.

“We are extremely pleased with the amount raised for BEN and would like to thank everyone for their generous donations.

“Finally, during the event James Tomlinson, Managing Director of the Motor Auction Group was confirmed as the new NAMA chairman and Simon Henstock, UK Operations Director of BCA, was nominated vice chairman after Paul Hill stepped down. We wish them both the best of luck in their new roles.”

 

ENDS

NOTES TO EDITORS:

Gabriele Severini, NFDA Communications Officer
Tel: 020 7307 3423
Mob: 07880 039897
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: gabriele.severini@rmif.co.uk

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.   

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NAMA COMMENT - RESPONSE TO THE EU REFERENDUM RESULT

Published 24/06/2016

The National Association of Motor Auctions, which represents UK vehicle auctions, notes the conclusion of the EU Referendum and the decision, by the British public, to vote leave.

Sue Robinson, NAMA director said:

“Following the result of the vote NAMA will work with our members to help determine the correct next steps.

“We urge the UK government to swiftly negotiate a trade deal across Europe and the rest of the world and to secure currency stability, such that there is a level playing field for our members to operate in. Clearly it is as important to European importers as it is to the UK market that a deal is put in place very quickly.”

 

ENDS

NOTES TO EDITORS:

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk Email: rupal.rawal@rmif.co.uk

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.

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GOVERNMENT RESPONDS TO MILEAGE FRAUD LETTER

Published 16/08/2016

“It is positive to see that the government has now acknowledged the serious issue of odometer fraud”, said Sue Robinson, Director of the National Association of Motor Auctions (NAMA), the UK’s leading representative body for vehicle auctions, commenting on the response received from Department for Transport.

NAMA has outlined the problems that auctioneers face if they unintentionally sell a used car that has had its mileage adjusted, despite taking all reasonable precautions to ensure the vehicle had not been adjusted.

Mileage adjustment is the practice of altering a vehicle’s odometer to show a lower mileage than that actually travelled, thereby increasing the re-sale value of the vehicle.

Responding to a letter that NAMA has sent to the newly appointed Secretary of State for Transport Rt Hon Chris Grayling MP, the government has confirmed that they will be consulting on the need for action to address the issue of odometer fraud.

Robinson continued, “We have been lobbying government since September 2015 to tackle the issue of odometer fraud, with the launch of a campaign to raise awareness and encourage the outlawing of mileage adjustment companies in the UK.

“We are pleased to see that the government has positively responded to our letter, we believe further action is essential as odometer fraud has been causing problems not only to auctions, but also to the whole industry.

“We will be monitoring the situation and continue to lobby the government to ensure every effort will be made in order to tackle the issue.”

 

ENDS

NOTES TO EDITORS: A copy of the letter is available from the press office.

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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. 

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NFDA AND NAMA CALL FOR DEBIT CARD CHARGES INDUSTRY EXEMPTION

Published 13/10/2016

“The National Franchised Dealers Association (NFDA) and National Association of Motor Auctions (NAMA) have written to the Payments Systems Regulator, calling for a dispensation for the automotive industry for debit card charges”, said Sue Robinson, Director of NFDA and NAMA, commenting on the new cap on card fees introduced in September.

A cap on credit and debit card fees was introduced on 1 September 2016. This was intended to be fairer to consumers by lowering fees on smaller debit card transactions, but has led to unintended consequences for car retailers and auctions.  The credit card cap has not offset the increase in debit card charges that the new fees bring, meaning businesses are paying considerably more to process card payments.  

Sue Robinson continued, “Fees have increased from between 40 to 60 pence per transaction, to 2% of the whole transaction, which can equate to a £300 fee on a £15,000 transaction.  This is a common problem for businesses that trade in high value goods such as cars.  It is uneconomical for the sector to absorb these extra costs and it is likely that the additional charges will be passed on to the customer in higher prices or card handling fees.

“Many dealers and auctioneers have moved to taking debit card payments from cash in order to comply with anti-money laundering regulations and they are now being penalised with higher fees.

“Following Brexit, we need to support investment, as well as business and consumer spending. We have to ensure that households have a disposable income, and dealers and auctioneers should not be forced to pass the new charges on to consumers.”

 

ENDS

NOTES TO EDITORS:

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA LAUNCHES NEW CAR AUCTION DATA REPORT

Published 17/10/2016

The National Association of Motor Actions (NAMA) has launched its new car auction data report today.  The new style report will be published on a monthly basis and is compiled by Glass’s Guide.

The report shows that in September:

  • First time conversation rates increased by 4.6% to 82.3% - however were still down   -0.2% on the same period last year
  • Average selling value increased 0.1% to £4,829
  • Average mileage went down to 67,799 - which is broadly in line for the same period last year
  • The first time premium was £192 – down by £42 in August, however was up £22 on the same period last year

Louise Wallis, Head of NAMA commented, “Auction activity throughout September remained strong from the surge which began in August following our vote to leave the EU – showing the economy remains strong and business is still as usual.”

 

ENDS

NOTES TO EDITORS:

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA CAR AUCTION REPORT OCTOBER 2016

Published 17/11/2016

The National Association of Motor Auctions (NAMA) published its monthly car auction data report today for October 2016.

The report shows that overall in October:

  • First time conversation rates decreased by -2.2% to 80.1% - however were still up 1.1% on the same period last year
  • Average selling value increased an impressive 10.7% from £4,829 to £5,347
  • Average mileage went down by -2.9 to 65,847
  • The first time premium was £186 – down by -£6 on September, and down -£107 on the same period last year

Louise Wallis, Head of NAMA commented, “Auction activity has cooled slightly from its peak in September, however, conversion rates remain strong for the time of year and ahead of 2015.

“Whilst auction volumes sit outside the scope of this report, it is believed that the strong overall conversation rate in October was not due to a shortage of supply – thus indicating that retail demand remains buoyant.

“We look forward to seeing what the auction market has in store as we approach the Christmas season.”

 

ENDS

Notes for editors: The full NAMA Car Auction report is available from the RMI press office on request.

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA CAR AUCTION REPORT NOVEMBER 2016

Published 20/12/2016

The National Association of Motor Auctions (NAMA) published its monthly car auction data report today for November 2016.

The report shows that overall in November:

  • First time conversation rates decreased by -0.9% to 79.2% - however were still up 2.9% on the same period last year
  • Average selling value increased 0.4% from £5,347 to £5,370
  • Average mileage went down by -1.7% to 64,738
  • The first time premium was £80 – down by a massive £106 (-57%) on last month, and down £14 (-14.7%) on the same period last year

Louise Wallis, Head of NAMA commented, “Wholesale used car activity throughout November only cooled slightly compared with October which underlines how strong auction activity has been during the final quarter of the 2016.

“We look forward to seeing what the auction market has in store following the Christmas and New Year break.”

 

ENDS

Notes for editors: The full NAMA Car Auction report is available from the RMI press office on request.

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA COMMERCIAL VEHICLE REPORT – DECEMBER 2014

Published 22/01/2015

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for December today.

The report shows that during December the average values of used LCV’s at auction across the board increased 2.9% from £4,948 to £5,091 between November and December. Volumes saw a -36.4% decrease, and the average age of LCV’s sold at auction fell to 65.9 months.

The average number of days that LCVs remained on site fell to 12.8 days, and the average mileage increased from 82,772 to 82,831 miles.

The average price paid for LCVs in December increased by £143 (+2.9%) which equates to an impressive uplift of £334 (+7%) over the same month in 2013.

At 4,562, the total number of LCVs sold at auction in December fell sharply across all age bands.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “with the LCV market up to a record breaking £5,091 - boosted by the reduction of over 6 year old vans, this trend in 2014 gives us a clear indication that sales of older vans from the rescission have finally washed through.

“The month of December is typically a quiet one due to seasonal trend, and so it is encouraging to see that sales volumes were up 17% compared to December 2013.

“Here at NAMA we are confident that 2015 will be a highly successful year for the commercial vehicle market.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA REPORT DECEMBER 2014

Published 22/01/2015

The National Association of Motor Auctions (NAMA) published its monthly market report today for December.

The report shows that during December the average month-on-month value of used cars sold at auction across the board decreased 1.2% from £5,736 to £5,670. However, this figure is 2% higher than December 2013.

Sales volumes for December 2014 are down by 37% in comparison to the November 2014 figures. However this reduction is a more sensible 6% against December 2013. The drop in volume suggests that December 2014 has been a slower sales period than the same time last year.

The volume of vehicles sold first time during December 2014, dropped from 76% in November to 73%. On the face of it this may not seem to be a surprise bearing in mind the time of year. However, this is 6% lower than December 2013 and this suggests that there may have been a greater level of stock in the market to choose from.

The price premium for vehicles sold first time round in December 2014 reversed the recent trend of decline by moving up £25 to £200, and the average days on site increased to 9.7 days.

Sales Volumes by profile in December 2014 compared to December 2013

 

Dec-13

Dec-14

Diff %

Late & Low

£15,650

£15,825

1.1%

Fleet

£8,250

£8,375

1.5%

PX (Young)

£5,275

£5,825

10.5%

PX (Old)

£2,525

£2,825

11.8%

Budget

£800

£900

12.5%

NOTES:    Late & Low are cars from: 0 - 2.5 Years

Fleet are cars from: 2.6 – 4.5 Years    PX (young) are cars from: 4.6 – 6.5 Years

PX (Old) are cars from: 6.6 – 10.5 Years     Budget: >10.5 Years

 

Average sales prices show a significant increase in all except 2 sectors. This suggests that values have not increased for the Late and low and Fleet sectors due to an increase in volumes.

Paul Hill, NAMA Chairman Comments, “With the new car market finishing 2014 up 8.7% on 2013 at 2.476 million units and higher than any year since 2004, it is fair to say that franchised dealers have had little to complain about. The new car success story is set to continue through 2015, and January will prove to be the first and one of the most profitable new car months of the year. From a used car perspective 2014 can also be hailed as a great success.

“The early part of December saw a continuation of November’s buyer driven period, during which dealers were presented with opportunities to do business by retail buyers rather than necessarily being given the chance to sell to the customer. This balance shifted as the month progressed and retail buyers returned to the market in numbers as the days passed, and by Christmas things were getting back to normal. January has seen a very encouraging start with plenty of retail footfall and good demand for cars across all ages and price ranges and this will continue through until the end of the month.

“From a trade perspective December saw the usual drop in defleet volumes and the natural tail off in trade demand as cheque books were put away for the month. However, there were still some vendors looking to sell cars right up to the Christmas break which gave trade buyers the chance to stock at a higher level than in previous years. The impact of this activity is evident in the fact that the early January market did not bounce back in quite the way that many had hoped for and stock volume has remained fairly high in the trade as a whole, however activity from the second week has been very strong. With greater volume coming to the market every month this year it will be interesting to see how the market develops, although it is fair to say values are likely to remain firm for the remainder of January.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA COMMERCIAL VEHICLE REPORT – JANUARY 2015

Published 16/02/2015

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for January today.

The report shows that during January the average values of used LCV’s at auction across the board decreased -3.6% from £5,091 to £4,907 between December and January. Volumes saw an 85% increase, and the average age of LCV’s sold at auction rose to 67.5 months.

The average number of days that LCVs remained on site went up to 17.6 days, and the average mileage increased from 82,831 to 83,349 miles.

At £4,907, despite the average price paid for LCVs in January falling by £184 (-3.6%) this still represented an uplift of £100 (+2%) over the comparable figure recorded in 2014.

At 8,427, the total number of LCVs sold at auction in January grew sharply from the low point reached in December. Despite increases being posted across all age bands, the total volume was more than 8% below that recorded in January 2014.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “The year on year figure for LCV’s was not as predicted. In fact, the opposite of what everyone expected has happened.  Volume was down and prices were up again on a very strong January 2014.

“The age of stock over 6 years the highest sector with a mileage increase and it seems there is still a significant amount of other 6 year stock to wash through the pipeline yet. In January, the number of days LCV’s remained on site went up by 5 days. This was as expected as some Vendors held out stock over the festive period and earlier.

“Conversion rate remained positive at 75%, despite older and higher mileage stock in market, and it was encouraging to see stock up to 3 years old and low mileage is still at a premium.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk Email: rupal.rawal@rmif.co.uk

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.

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NAMA REPORT JANUARY 2015

Published 16/02/2015

The National Association of Motor Auctions (NAMA) published its monthly market report today for January.

The report shows that during January the average month-on-month value of used cars sold at auction across the board increased 2.8% £5,670 to £5,828. This is 7% higher than the same period in 2014. The increase in sale value would reflect the quality of stock available in the New Year.

Sales volumes for the late low sector in January 2015 increased by 74% from 6,746 units to 11,835 units.  In addition PX Profile (Young) saw a fall from 16,228 units for January 2014 to 11,169 units in January 2015.

The volume of vehicles sold first time during January rose from 73% in December to 80% in January - which was slightly behind the 82% seen during January 2014.

The price premium for vehicles sold first time round in January 2015 increased by £75 to £275 over the December figure, and the average days on site increased to 12.0 days.

Sale Price by Age Profile in January 2014 compared to 2015

 

2014

2015

Diff %

Late & Low

£14,250

£15,225

6.8%

Fleet

£8,450

£8,850

4.7%

PX (Young)

£5,300

£5,800

9.4%

PX (Old)

£2,475

£2,850

15.1%

Budget

£825

£925

12.1%

NOTES:    Late & Low are cars from: 0 - 2.5 Years

Fleet are cars from: 2.6 – 4.5 Years    PX (young) are cars from: 4.6 – 6.5 Years

PX (Old) are cars from: 6.6 – 10.5 Years     Budget: >10.5 Years

The average sale price increased on lower sales volume in January in all sectors.

This suggests that there have been fewer vehicles available for sale during January 2015. Given the slightly lower conversion for January 2015 compared to the same period 2014 this would indicate some dealers are prepared to pay more for some stock but may still be choosey if they have stock and are buying to fill spaces where stock has sold.

Paul Hill, NAMA Chairman Comments, “Following on from the new car market finishing at 2.476 million units in 2014, this month has shown a strong start to 2015 delivering a 6.7% increase on January 2014 with 164,856 units - best start to a year since 2007. This means the period of record market growth has reached its 35th consecutive month.

“There has however been a fall in retail sales by 5.1% which is the first fall in four years. Company car registrations have masked this fall with an 18.1% increase in registrations for January 2015.

“To sum up, February should remain a strong retail month for used cars as orders build for delivery during the next plate change, but may run behind previous years as incentives attract retail buyers into potentially late low mileage and new vehicles. We should however be thinking ahead as PCP returns are coming and they have the potential to change the look of the wholesale and retail used car landscape.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA COMMERCIAL VEHICLE REPORT – FEBRUARY 2015

Published 16/03/2015

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for February today.

The report shows that the average value of used LCV’s at auction across the board decreased from £4,907 to £4.749 between January and February. Volumes saw an 8.6% increase, and the average age of LCV’s sold at auction fell to 68.6 months.

The average number of days that LCVs remained on site declined to 15 days, and the average mileage decreased from 84,617 to 82,650miles.

At £4,749, the average price paid for LCVs in February fell by £34 (-0.7%) which represented a fall of £95 (-2%) against the comparable figure recorded in 2014.

At 10,566 the total number of LCVs sold at auction in February continued to grow across all age bands. The total sales volume was an impressive 23% above the figure posted by this same month last year.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “The data presented in this latest NAMA LCV report suggests that there is still a healthy level of demand for most light commercial vehicles. In February, an 8.6% increase in volume led to modest price falls yet, as average age reduced slightly with mileage falling sharply a better result would have been hoped for.

“Despite February having bounced back after a patchy start to 2015, there have been several subtle changes as to what used stock is currently in demand. Scruffy, high mileage LCVs over 4-years of age took the biggest hit which was to be expected as the demand witnessed over the past 24 months for such hard-used lots was driven solely a lack of more desirable alternatives.

“With 2014 posting an LCV sales increase close to 19% with the first 2 months of 2015 delivering growth above 20%, the greatest impact on prices will be exerted by soaring van and pick-up registrations. From this point onwards its business as usual with growth in the wider economy hopefully leading to sufficient demand to keep pace with the ever-higher volumes being de-fleeted.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA REPORT FEBRUARY 2015

Published 16/03/2015

The National Association of Motor Auctions (NAMA) published its monthly market report today for February.

The report shows that during February the average month-on-month value of used cars sold at auction across the board decreased 0.4% from £5,592 to £5,567.

Sales volumes were down by 7.3% in comparison to the January 2015 figures. This is not unexpected as stock levels reduce at the auction centres in line with the February market prior to the March plate change, and the sale of vehicles that had built up in January post the holiday period sold at the end of January. However vehicle sales were up by 7% and almost 7,000 units compared to February 2014.

The volume of vehicles sold first time during February 2015 rose from 82% in January 2015 to 84%. However, this was down as a percentage on February 2014 by 2% despite showing a greater number of vehicles sold in comparison.

The price premium for vehicles sold first time rose by £50 on the January 2015 value to £350 and the average days on site decreased to 8.2 days.

Sale Price by Age Profile in February 2014 compared to 2015

 

2014

2015

Diff %

Late & Low

£14,475

£15,050

3.9%

Fleet

£8,575

£8,800

2.6%

PX (Young)

£5,225

£5,750

10.0%

PX (Old)

£2,500

£2,725

9.0%

Budget

£800

£900

12.5%

NOTES:    Late & Low are cars from: 0 - 2.5 Years

Fleet are cars from: 2.6 – 4.5 Years    PX (young) are cars from: 4.6 – 6.5 Years

PX (Old) are cars from: 6.6 – 10.5 Years     Budget: >10.5 Years

Average sale price has increased on the perception of tighter supply in comparison in all sectors although the overall number of vehicles sold was higher than February 2014.

Paul Hill, NAMA Chairman Comments, “February 2015 has shown another strong month in the new car market, the 36th month of consecutive growth delivering 76,958 units up 12% on the February 2014 number of 68,736 units. The registrations were pushed up by a growth of 19.9% in fleet and 3.4% in the private market.

“At a wholesale level as expected values were strong for the month of February in the build up to the March plate change. Early indications are that stock numbers are building in the auction centres a little earlier than the normal market trend for this time of the year. Dealers are verbally reporting a good order take for the new plate change, and transport companies suggesting that their utilisation will be high for March delivering new stock and moving used vehicle stock to the auction centres.

“A strong month on the plate change will inevitably mean more used vehicle stock in the market, that will potentially put pressure on average prices and an early Easter in April will potentially compound this.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA COMMERCIAL VEHICLE REPORT – MARCH 2015

Published 15/04/2015

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for March today.

The report shows that the average value of used LCV’s at auction across the board decreased -2.7% from £4,479 to £4.623 between February and March. Volumes saw a 7.2% increase, and the average age of LCV’s sold at auction rose to 70.1 months.

The average number of days that LCVs remained on site declined to 14.9 days, and the average mileage decreased from 82,650 to 82,232 miles.

At £4,623, the average price paid for LCVs in March fell by £126 (-2.7%) which is a fall of £171 (-3.6%) over the past 12 months. 

At 11,329, with the exception of nearly new LCVs, the total number of LCVs sold at auction increased within each age band. The total volume of LCVs selling at auction in March was an impressive 23% higher than recorded for this same month in 2014.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “The wholesale market’s performance as represented in the March NAMA LCV report continues to deliver an upbeat message with demand holding firm despite sizeable increases in both overall sales volume and average age.

“The 7.2% volume increase over February 2015 was expected following the new registrations entering the used LCV market. Even more significantly we are pleased to see that the year-on-year growth has reached 23% - one of the largest increases seen. This did however lead to a -9.3 year-on-year decrease in conversation rates.

“It is also interesting to see that LCV’s over 6 years recorded the largest number of sales following a downward trend. We are hopeful that the outlook for the summer months looks promising.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406
Web: www.rmif.co.uk Email: rupal.rawal@rmif.co.uk

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.

Read More

NAMA REPORT MARCH 2015

Published 15/04/2015

The National Association of Motor Auctions (NAMA) published its monthly market report today for March.

The report shows that during March the average month-on-month value of used cars sold at auction across the board decreased -5.7% from £5,567 to £5,251.

Sales volumes were up by 19.1% in comparison to the February 2015 figures. This is not unexpected as stock levels increased at the auction centres in line with the March market and plate change generating part exchange vehicles and end of contract vehicles.

The percentage of vehicles sold first time during March 2015 remained static at 84% compared to February 2015, but was down by 2% on the equivalent period in 2014 at 86%, although the numbers sold were greater than 2014 figure.

The price premium for vehicles sold first time remained static at £350 and the average days on site decreased to 6.8 days.

Sale Price by Age Profile in March 2015 compared to 2014

 

2014

2015

Diff %

Late & Low

£14,725

£14,300

-2.9%

Fleet

£8,675

£8,825

1.7%

PX (Young)

£5,250

£5,600

7.6%

PX (Old)

£2,450

£2,675

9.1%

Budget

£750

£850

13.35%

NOTES:    Late & Low are cars from: 0 - 2.5 Years

Fleet are cars from: 2.6 – 4.5 Years    PX (young) are cars from: 4.6 – 6.5 Years

PX (Old) are cars from: 6.6 – 10.5 Years     Budget: >10.5 Years

Average sale prices other than late low have increased as the used retail market has remained buoyant throughout March 2015.

Paul Hill, NAMA Chairman Comments, “March 2015 has been a spectacular month for the new car market – marking the 37th month of consecutive growth in new car sales delivering 492,774 units up 6.0% on March 2014. It is also the best month since the twice yearly number plates were introduced in 1999.

“New products and attractive finance packages underpinned by low interest rates have all helped in delivering the best month this century.

“At a wholesale level values were strong for the month of March despite being a plate change month. However, indications are that stock numbers are building at the auction centres in early April as part exchange and end of contract vehicles become available for sale.

“A strong March on the plate change will inevitably mean more part exchange vehicles with the dealer networks and increased used stock at the auction centres from end of contract vehicles, part exchange cars and overage units. Therefore it is highly likely that this set of circumstances will have a negative effect on the average price achieved.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA AGM RAISES £10,700 FOR BEN

Published 20/04/2015

The National Association of Motor Auctions (NAMA) held its annual AGM on 18 April in Portugal.

A charity auction in aid of BEN – the automotive industry charity, took place following the AGM - raising a phenomenal £10,700.

Louise Wallis, Head of NAMA commented, “This year’s AGM was well attended by members and was overall a positive and informative meeting with constructive discussions regarding the UK auction industry.

“We are extremely pleased with the amount raised for BEN and would like to thank everyone for their generous donations.”

 

ENDS

NOTES TO EDITORS:

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.  

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NAMA COMMERCIAL VEHICLE REPORT – APRIL 2015

Published 15/05/2015

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for April today.

The report shows that during April the average values of used LCV’s at auction across the board decreased by 12%. The average age of LCVs saw an increase from 70.1 to 70.6 months. The average mileage decreased from 82,232 to 82,175.

The average number of days that LCVs remained on site was 15.7 days. At £4,573 the average price paid for an LCV fell 1.1%.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “The data contained within this report demonstrates again the strength of the marketplace for used LCVs. 72.2% of LCVs sold the 1st time of being offered the first time an total overall of -0.2%. Prices for each of the LCV age bands we highlight have become more sensitive to changes in volume and average age/ mileage.

“The LCV market as a wholesale also became more challenging as the prices for used LCVs have fallen. This is because of the lower reserve prices for maintenance conversion rate purposes and bolster returns.”

“There is a dramatic drop in 2 to 4 year old leasing stock pushing the overall age to its highest level in a long time of over 70 months.

We see however a clear stabilisation within each age band, as the average age for LCVs continues to increase and mileage remains high.”

“Volume has dropped month on month  but most importantly it is still 8%  higher than this time last year. The 1st time conversion rate has dropped by 5.3% as the buyers have started to get more selective. The auctions halls are still full of buyers and the right stock is still very sort after achieving very high prices. We are looking forward to a strong steady van market over the summer as long as vendors properly assess the conditions of these working vehicles.”

 

ENDS

NOTES TO EDITORS:

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.   

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NAMA REPORT APRIL 2015

Published 15/05/2015

The National Association of Motor Auctions (NAMA) published its monthly market report  for April. 

The report shows that during April, the average value of used cars sold at auction across the board decreased 5.0% to £5,228 from £5,251 in April 2015.

Despite the Easter break, volumes were only down 3.0% and from 109,271 in April 2014 to 118,861 in April 2015 ahead more than 9% on a seasonally adjusted basis.

First time conversion rates showed a decline from £350 in March 2015 to £325 in April 2015.     

 

Price changes in March compared to February, by customer type

 

Apr-14

Mar-15

Diff %

Late & Low

£14,900

£14,450

-3,0%

Fleet

£8,975

£9,200

+2,5%

PX (Young)

£5,425

£5,925

+9,2%

PX (Old)

£2,575

£2,850

+10,6%

Budget

£775

£850

+9,6%

NOTES:    Late & Low are cars from: 0 - 2.5 Years

Fleet are cars from: 2.6 – 4.5 Years    PX (young) are cars from: 4.6 – 6.5 Years

PX (Old) are cars from: 6.6 – 10.5 Years     Budget: >10.5 Years

 

Paul Hill, NAMA Chairman comments: “We see positive results for the new car market in April 2015, with it up being 5.1% up on last year’s results, with 184,778 units being delivered.”

“March with its plate change gave an increase in the volume of units being offered through the auction lanes with dealer part exchange and corporate vehicle returns being in greater supply than in previous months. New products, attractive finance packages and low interest rates have yet again given the new car market a massive boost which in turn is providing volume increases for the auction sector”

Hill continues: “Because of the plate change in the prior month we see an increase of exchange of vehicles within the dealer networks. This has led to an increased stock of used vehicles in auction centres.”

“The forecast for the coming months is positive; there is continued economic recovery ensuring any increased supply has been met with a sensible level of demand, used vehicle supply will now fall back slightly over the summer months which in turn will ensure conversion rates remain strong, the only factor to keep a watch on is the volume of 2 – 3 year old PCP returns which may affect the price performance of certain sectors within the market.”

 

ENDS

NOTES TO EDITORS:

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

 

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NAMA COMMERCIAL VEHICLE REPORT – MAY 2015

Published 18/06/2015

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for May today.

The report shows that the average value of used LCV’s at auction across the board increased 0.6% to £4.599 between April and May. Volumes saw a -4.1% decrease, and the average age of LCV’s sold at auction fell from 70.6 to 69.3 months.

The average number of days that LCVs remained on site declined to 14.9 days, and the average mileage decreased from 82,175 to 81,761 miles.

In May, the average price achieved for LCVs increased modestly by £27 (0.6%). However, as the average return has fallen by £325 (-6.6%) over the past 12 months it’s now apparent that price levels are gravitating to a more sustainable level. 

At 9,567 units, despite 406 fewer LCVs being sold at auction in May when compared to the previous month, against the same month in 2014 volumes stood 14% higher. With a solid uplift of 5.4%, it was only the 2 - 4 year age band that delivered any growth although this followed the big fall posted by this sector in April.

Paul Hill, NAMA Chairman Comments, “Following some patchy performances earlier in 2015, May proved to be a good month for those wholesaling light commercial vehicles. Falls in average age, mileage and volume each helped deliver a modest, though welcome increase in average price.

“Perhaps the most encouraging statistic to be seen in this NAMA LCV Report was that at 77.5% (+5.3%) the percentage of LCV lots selling at the first time of being offered was the highest recorded in 6 months.

“As we move through the remainder of 2015, it is likely that relatively small swings in the balance between supply and demand will be felt more sharply. Where volumes fall short of the maximum that the trade can absorb, we can expect to see stable market conditions with prices holding firm. However, for any sector and/or age band where even just a few too many LCVs are being de-fleeted, price slippage should be anticipated.

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk Email: rupal.rawal@rmif.co.uk

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.

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NAMA REPORT MAY 2015

Published 18/06/2015

NAMA Report May 2015

The National Association of Motor Auctions (NAMA) published its monthly market report today for May 2015.

The report shows that the average sale price in May increased by £172 on the April 2015 figure from £5,228 to £5,400. However, it was marginally down from £5,420 in May 2014 to £5400 in May 2015.

Sales volumes for May 2015 were down by -10.2% in comparison to the April 2015 figures. In terms of a year-on-year comparison, vehicle auction sales were up by 3% from 103,666 in May 2014 to 106,752 in May 2015.

The percentage of vehicles sold first time during May 2015 was down to 73% in May 2015 from 77% in April 2015, but remained static on the May 2014 figure of 73%.        

The price premium for vehicles sold first time decreased to £275 and the average days on site increased to 8.4 days.

Sale Price by Age Profile in May 2015 compared to 2014

 

2014

2015

Diff %

Late & Low

£14,725

£14,750

0.2%

Fleet

£8,725

£8,975

2.9%

PX (Young)

£5,400

£5,800

7.4%

PX (Old)

£2,600

£2,775

6.7%

Budget

£775

£850

9.7%

Average sale price by age profile for May 2015 increased along all age profiles compared to May 2014. The older profile vehicles have seen the greatest increase in price in percentage terms at 9.7%.

Paul Hill, NAMA Chairman Comments, “At the wholesale level, conversion rates dipped at the end of May and into June, with average prices falling. When we look at the specifics it is clear that the volume of older ‘budget vehicles’ over 10 years old, reduced but maintained a status quo in price terms. It is only the reduction in volume that has stabilised the price in this sector - this is unlikely to continue as values in other sectors have already begun to decline.

“There are clear indications that there has been an excess of available stock, and some vendors have been holding out for price and not following the market. My advice is that anyone selling a vehicle needs to react to this market adjustment and follow the advice of their remarketing partners.

Holding out for the money is a strategy that invariably costs money, with the vehicles eventually being sold for a value less than was originally bid.

“It is good to see an increase in buyers in the auction halls again and there is also good quality overage dealer stock attracting interest from buyers. Whilst stock and buyers are there, additional realignment in pricing will be necessary during June, reflecting supply and demand, but the overall market remains positive and well balanced.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk Email: rupal.rawal@rmif.co.uk

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.

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NAMA COMMERCIAL VEHICLE REPORT – JUNE 2015

Published 16/07/2015

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for June today.

The report shows that the average value of used LCV’s at auction across the board increased 1.7% to £4.677 between May and June. Volumes saw a 6.6% increase, and the average age of LCV’s sold at auction fell from 69.3 to 67.7 months.

The average number of days that LCVs remained on site rose to 15.4 days, and the average mileage decreased from 81,761 to 80,504 miles.

In June, despite the average price achieved for LCVs increasing by £78 (1.7%), this still represented a fall of £162 (-3.3%) over the past 12 months. 

In June, there was a sizeable increase in the number of LCVs being wholesaled through the auction system. Growth of 6.6% took the monthly tally to 10,202 units and delivered an increase of 17% over the same month in 2014. Encouragingly, with the exception of the oldest lots, supply improved at all years, which will be greatly appreciated by trade buyers.

Paul Hill, NAMA Chairman comments, “This month’s LCV report delivers plenty of good news for those wholesaling used LCVs to digest, and highlights that the market for used LCVs remains robust.

“In June, average price and overall volume each saw healthy gains with average mileage continuing to fall back. These are positives that set the scene once we are through the summer lull, for a strong second half of 2015.

“The less positive news is that used LCVs are remaining on site for longer, with a sizeable increase in the proportion that do not sell at the first time of being offered, partially due to volume increases and a higher proportion of duplicate stock.

“Any indications of tougher times ahead are mostly being driven by the approaching holiday season when traditionally few dealers would wish to be holding too much stock. However, vendors would be well advised to heed such warning signs and take steps to ensure that the used LCVs they bring to auction are presented in a manner that will maximise returns or to take account of condition when setting reserve prices.

“Although there are undoubtedly challenges ahead of us, with the UK economy being healthy and set to grow over the coming 12 months, there is good reason to be optimistic over the medium term.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA REPORT JUNE 2015

Published 16/07/2015

The National Association of Motor Auctions (NAMA) published its monthly market report today for June 2015.

The report shows that the average sale price in June increased by £98 on the May 2015 figure from £5,400 to £5,498. This is also the case for the year-on-year value with June 2015 increasing by 2.2% on the June 2014 average sale price of £5,381.

Sales volumes for June 2015 are up by 2.1% in comparison to the May 2015 figure. In terms of a year on year comparison, vehicle auction sales were also up by 2.3% from 106,485 in June 2014 to 108,950 in June 2015 selling 2,465 more vehicles in June 2015.

The percentage of vehicles sold first time in June 2015 is static at 73% in comparison to May 2015, however in comparison to June 2014 the percentage is down from 77% a decrease of 4%.

The price premium for vehicles sold first time also remained static £275 and the average days on site increased to 8.8 days.

Sale Price by Age Profile in May 2015 compared to June 2014

 

2014

2015

Diff %

Late & Low

£14,575

£14,575

0.0%

Fleet

£8,575

£8,925

4.0%

PX (Young)

£5,175

£5,625

8.7%

PX (Old)

£2,525

£2,725

7.9%

Budget

£750

£875

16.7%

Despite increased total volumes from May 2015 to June 2015 and increased volumes compared to June 2015, sale prices have increased in four out of five categories with Late Low remaining static.

Paul Hill, NAMA Chairman comments, “Continued low interest rates combined with favourable exchange rates, new models, advanced technology, and improved safety features are helping to support manufacturers with their growth objectives for new car sales.

“At the wholesale level conversion rates have dropped slightly in June with increased volumes in the auction halls and the wholesale trade in general including digital and alternative channels. Prices have remained buoyant in June and this is likely to continue throughout July and August as used vehicle stock levels are likely to fall during the holiday season and prior to the September plate change.

“The increase on Late Low and Fleet Profile stock is likely to continue in July, and as a consequence of record registration figures in June as fleet returns and overage stock enter the market, we are likely to see another realignment of pricing in line with volume in this particular sector.

“July will again need the vendors’ remarketing partners to guide and advise on market conditions and levels of vehicle preparation to achieve the best results in terms of price and conversion rate achievement combined with minimal days to sell.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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TRAINING FOR FUTURE SUCCESS WITH NAMA

Published 22/07/2015

“We are delighted with the success of NAMA’s Appraiser training courses, which have been extremely beneficial for attendees,” said Paul Hill, Chairman of the National Association of Motor Auctions (NAMA). NAMA represents all member auction companies of all sizes selling cars, commercial vehicles and off-road vehicles

The NAMA Appraiser training courses are held in conjunction with Stephenson College in Leicestershire.

Hill praised the efforts of the college, stating, “Stephenson College continues to meet all the challenges presented. We are delighted to have the opportunity to work with such a respected higher education establishment.”

The courses train auction staff to appraise vehicles consistently and to a high standard, underpinning NAMA’s Grading Scheme by ensuring that vehicles are assessed uniformly. This gives consumers confidence in the veracity of the scheme.

NAMA’s Grading Scheme is the first national vehicle grading scheme and an unprecedented competency framework.

The Appraiser course was started 10 months ago, and has already trained over 300 candidates. It helps candidates to qualify faults and severity levels to a consistent standard, and to justify decisions utilising the NAMA standards for appraisal. It takes place over the course of one day.

Candidates gain an in-depth understanding of the benefits of standardisation for both buyers and sellers alike, and the importance of such a role in setting a new standard for the UK motor industry as a whole.

Successful attendees are rewarded with the ‘NAMA Accredited Appraiser’ qualification from the college and the Institute of the Motor Industry (IMI).

 

ENDS

NOTES TO EDITORS:

  • The National Association of Motor Auctions (NAMA) was originally founded as The Society of Motor Auctions in 1969. NAMA is an association within the Retail Motor Industry Federation representing Vehicle Auction Companies within the UK, currently covering 73 Member sites including large groups and independent auctions.  NAMA Members collectively employ 5,600 staff and last year were responsible for the sale of 1.4 Million vehicles generating a combined sales value of £7.6 Billion.
  • Stephenson College is one of the leading colleges in the UK for the automotive and logistics industry and is ideally situated in the centre of the UK. The college is committed to working with employers and contributing to increasing both local and national productivity.
  •  

Susan Pollock, Communications Officer
Direct: 020 7307 3424
Fax: 020 7307 3406

Web: www.rmif.co.uk  Email: susan.pollock@rmif.co.uk

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.

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NAMA COMMERCIAL VEHICLE REPORT – JULY 2015

Published 18/08/2015

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for July today.

The report shows that the average value of used LCV’s at auction across the board decreased -4.5% compared to June 2015. Volumes saw a 2.7% increase to 10,478 units, and the average age of LCV’s sold at auction remained at 67.7 months.

The average price achieved for LCV’s increased in July by 1%. However, compared to this period last year, average prices sat 4.5% lower. Whilst it is interesting to compare average selling prices and it is a measure that has long been used by auction companies, it is difficult to draw any cast-iron conclusions without looking at a more granular level, as factors including volume, mix, age and mileage can affect the output.

Units sold in July increased for the third consecutive month to 10,478. Units under 2 years of age increased by 18.4% over the previous month and 43% over this year’s low point in May.

Alex Wright, NAMA LCV Chairman comments, “This month’s NAMA LCV report suggests that vendors that are going to the market are reaping the rewards and moving stock along. In comparison, those following the books are paying the price and are sitting on stock for a lot longer.

“Increased volumes have contributed to slowing conversion rates, and average prices have also fallen. This has been compounded by manufacturers driving new sales through purchasing and leasing.

“The commercial market is definitely showing signs that it has reached its peak in terms of prices, however we are not anticipating a significant decline in prices - just a slight depreciation.

“The average age of vehicles has increased over this time last year – suggesting that there is still a great influx of older vehicles washing through.

“We are by no means concerned following the -6.7 drop over July 2014, as historically July and August are typically quitter months due to the summer holidays and this is now seen as a seasonal trend. We hope to sales of LCV’s grow over the coming months.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA REPORT JULY 2015

Published 18/08/2015

The National Association of Motor Auctions (NAMA) published its monthly market report today for July 2015.

The report shows that the average sale price in July decreased by £140 on the June 2015 figure from £5,498 to £5,358. This was also the case for the year-on-year value with July 2015 decreasing by -4.2% on the July 2014 average sale price of £5,595.

Sales volumes for July 2015 were up by 4.2% in comparison to the June 2015 figure. In terms of a year-on-year comparison, vehicle auction sales were also up by 12.2% from 101,190 in July 2014 to 113,553 in July selling 12,363 more vehicles in June 2015.

The percentage of vehicles sold first time in July increased from 73% in June 2015 to 80% in July 2015. In comparison to July 2014, this was also up by 1% from 79% in July 2014.

The price premium for vehicles sold first time was up by £75 to £350, and the average days on site decreased to 8.1 days.

Sale Price by Age Profile in July 2015 compared to July 2014

 

2014

2015

Diff %

Late & Low

£14,550

£14,525

+0.2%

Fleet

£8,525

£8,800

+3.2%

PX (Young)

£5,225

£5,575

+6.6%

PX (Old)

£2,550

£2,650

+3.9%

Budget

£775

£825

+6.5%

Whilst sale prices by age profile increased compared to the equivalent month in 2014, they declined in all categories compared to June 2015, in line with higher numbers of vehicles available for sale in the wholesale market.

Paul Hill, NAMA Chairman comments, “At the wholesale level the conversion rates improved despite increased volumes in the auction halls. Prices were under pressure in line with the wholesale volume increases in the market and the outlook for the September plate change - the last significant registration period for 2015.

“Dealers and leasing vendors recognised that over age, part exchange and end of contract stock needs to be sold in preparation for new stock arriving in September.

“Significant numbers in July of PX Old and Budget Vehicles will have an adverse effect on prices going forward, despite the currently buoyant used retail market. The European markets, whilst showing growth, are still working from a low base and are not registering the numbers to take the volume pressure off the UK market. Incentives through August, September and into Q4 will keep the pressure on new vehicle registrations including pre-registration activity.

“Many of the larger dealers are currently satisfying the demand for used vehicle stock through pre-registration activity, and PCP returns generated from early renewal activity and customer retention campaigns. This inevitably will lead to the wholesale market weakening and will be further compounded as the market runs toward the calendar year end, with many businesses looking to reduce stock over the holiday period as well as their financial year end. Vendors remarketing partners will have to again guide and advise on market conditions to achieve best results.”

 

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA LCV REPORT

Published 23/09/2015

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for August today.

The report shows that the average value of used LCV’s at auction across the board increased 1% compared to July 2015. Volumes saw a -16.8 decrease compared to last month, and the average mileage of LCV’s fell below 80,000 miles for the first time this year.

The average price across the LCV sector of the market increased by 1% in August to £4,771. This is the second highest value this year, beaten only by the average prices that were achieved in January, which is typically expected to be a strong month.

Average values of vehicles up to 2 years of age increased in August by 2.3% to £11,620 which is £1,200 up on August last year across a similar volume, although based on a slightly lower average mileage.

August is a month that sees a reduction in fresh fleet entries with many contract hire and leasing change cycles set up to coincide with the plate change in September.

This August was no exception and as a consequence volumes sold fell to the lowest point this year, down 16.8% on last month. The general trend that is emerging however, of year on year increases in auction volumes, is again reflected with a 6% increase in volumes sold in August versus this time last year.

Alex Wright, NAMA LCV Chairman comments, “August was a steady month in the LCV market and trends are beginning to get back to normal. 

“It is also positive to see that vehicles in the age 6+ category are no longer the largest. All extended contract utility vehicles are coming to an end and we are now seeing a welcome rise in volumes for the 2-4 year age group.

“It is also worth looking at how much more volume is in the market compared to 3 years ago - yet prices remain higher. It will be interesting to see if this can be sustained.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA REPORT AUGUST 2015

Published 23/09/2015

The National Association of Motor Auctions (NAMA) published its monthly market report today for August 2015.

The report shows that the average sale price in August increased by £230 on the July 2015 figure from £5,358 to £5,588. This is also the case on the year on year value with August 2015 increasing by 1.4% on the August 2014 average selling price of £5,512.

Sales volumes for August were down by -12.2%% in comparison to the July 2015 figure in line with seasonal norms prior to the September plate change. Year on year comparison of vehicle auction sales were also down by -2.2% from 101,944 in August 2014 to 99,680 in August 2015 - selling 2264 fewer vehicles.

The percentage of vehicles sold first time in August increased from 80% to 84% in August 2015. In comparison to this time last year, this was also up by 4% from 80% in August 2014.

The price premium for vehicles sold first time remained static £350, and the average days on site increased to 8.2 days.

Sale Price by Age Profile in August 2015 compared to August 2014

 

2014

2015

Diff %

Late & Low

£14,900

£14,800

-0.7%

Fleet

£8,625

£8,800

+2.0%

PX (Young)

£5,175

£5,650

+9.1%

PX (Old)

£2,550

£2,725

+6.8%

Budget

£775

£875

+12.9%

The average sale price in all the segments other than Late and Low increased, compared to the equivalent period 2014. Compared to July 2015, the average sale price also increased in all segments except the fleet profile, which remained static at £8800.

There were a significant number of budget vehicles sold at auction in August that masks some of the value achieved in other segments during the month.

Paul Hill, NAMA Chairman comments, “As the September plate change is upon us, we expect that there will be significant increases in the wholesale volumes starting to enter the market and this will build through the month of September. It is also forecast that leasing vendors will have increasing numbers of returns through September and into October.

“Given the slowdown in the Chinese auto market, manufacturers will again potentially be looking for a home for the vehicles expected to be registered in Asia and the UK will be one market that will see incentives to consume some of that supply. This in mind, and with most manufacturers chasing registrations and market share, we will see price realignment in the final quarter of 2015 as values continue to move downwards in line with supply and demand.

“The larger franchised dealers are focused on stock turn, to sell the ever increasing numbers of pre-registrations, part exchanges and PCP returns and the general smaller dealers continue to be under margin pressure. As such vendor remarketing partners need to continue to be close to their vendors and advise of changing market conditions as they develop.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA COMMERCIAL VEHICLE REPORT – SEPTEMBER 2015

Published 13/10/2015

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for September today.

The report shows that the average value of used LCV’s at auction across the board increased 1.5% from £4,770 to £4,843 in September. Volumes saw a 16.9 decrease, and the average mileage of LCV’s fell -1.2% to 77,918.

Price Changes by age

The average price for vehicles under 2 years of age fell by 1.2% in September, this despite having on average, almost 20% less miles. Feedback from dealers and traders suggests that there is a growing lack of interest towards late plated units, with the price gap between late year used and new narrowing due to very competitive deals currently in the market.

Volume Changes by Age

As expected sales volumes bounced back in September from the lows seen in August, with an overall increase of 16.9% to 10,219 units. Sales of units of an age that would normally be associated with fleet change cycles saw significant growth from last month, rising by almost 32% which was broadly in line with sale volumes observed during the last plate change period in March.

Alex Wright, NAMA LCV Chairman comments, “First time conversion rates have been volatile this year, with volume playing a major part. With the influx of units following September’s plate change beginning to have an impact it is perhaps surprising to report that first time conversion rates in September were reasonably strong at 78.2%.

“Whilst this represents a fall of 1.5% on the same period last year, it is almost 5% up on last month. Clearly there is significantly more volume around but there is also notable demand from the trade as sales volumes exceeded this period last year by 28%.

“With volumes ordinarily expected to remain high throughout October, auction sites will be hoping for a continuation of the buoyant activity recently seen in order to avoid a build-up of unsold units as we enter what is typically a slow period of the year in November and December.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA REPORT SEPTEMBER 2015

Published 13/10/2015

The National Association of Motor Auctions (NAMA) published its monthly market report today for September 2015.

The report shows that the average sale price in September decreased by -3.5% on the August 2015 figure from £5,588 to £5,391.

Sales volumes for September were up by 12.6%% in comparison to August 2015, in line with the seasonal trends during the 65- number plate change. In terms of a year-on-year comparison, vehicle auction sales rose by 13.2% from 99,165 in September 2014 to 112,888 in September 2015.

The percentage of vehicles sold first time in September increased from 84.1% in August 2015 to 85.4% - an increase of 1.5%.

The price premium for vehicles sold fell from £350 to £300, and the average days on site decreased to 7.3 from 8.2 days.

Sale Price by Age Profile in September 2015 compared to September 2014

 

2014

2015

Diff %

Late & Low

£14,275

£14,050

-1.6%

Fleet

£8,625

£8,800

+2.0%

PX (Young)

£5,275

£5,675

+7.6%

PX (Old)

£2,575

£2,675

+3.8%

Budget

£825

£825

0.0%

Three out of five market sectors saw price growth on the equivalent month in 2014 with no change in the budget sector and the late and low category showing a fall of -1.6%. There has been a significant number of budget vehicles sold at auction during the month and that masks some of the value achieved in other sectors.

Paul Hill, NAMA Chairman comments, “The September plate change has driven volume up through the month with values compared to August 2015 starting to decline. Available volume in auction was up significantly at the start of October and conversion rates have lowered.

“It is anticipated that volumes will continue to grow in during the month as fleet returns and part exchange volume continue to fill the lanes. Values will come under mounting pressure during October and will see an additional fall.

“Vendor auction partners need to be close to the market changes and advise swiftly on the rostrum and council at the pre-auction briefing to ensure days to sale remain down and the best values are achieved on the day.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NATIONAL CONCILIATION SERVICE LAUNCHES NEW WEBSITE

Published 03/11/2015

The National Conciliation Service (NCS) has today launched its new website - www.nationalconciliationservice.co.uk

The site, which is interactive and user-friendly, has a fresh design and modern layout providing users with a significantly enhanced digital experience. 

Website features include; NCS subscriber search tools, NCS process details, as well as offering users the ability to submit their complaints online. 

The NCS is an Alternative Dispute Resolution (ADR) scheme, accredited by the Chartered Trading Standards Institute under the Alternative Dispute Resolution for Consumers Disputes (Competent Authorities and Information) Regulation 2015. 

ADR is being encouraged by the Government as a cost effective way of dealing with consumer disputes that cannot be resolved between a business and a consumer. 

 

ENDS

NOTES TO EDITORS:

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

 

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NAMA COMMERCIAL VEHICLE REPORT – OCTOBER 2015

Published 18/11/2015

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for October today.

The report shows that the average value of used LCV’s at auction across the board increased 1.4% from £4,843 to £4,910 in October. Volumes saw a 2.3% decrease, however were up almost 21% on this time last year, and the average mileage of LCV’s was up 4.2% to 81,155.

The average price achieved throughout October increased for the 6th consecutive month to £4910 which represents an increase of 1.4% over last month, however when compared to last year it sits 5.2% down.

The volume of typical fleet vehicles (2-4 years) that were sold in October returned to levels that we have become used to throughout 2015, falling by -24% from the highs of September. Although these volumes have reduced substantially, vehicles in all other age groups actually increased further in October with the net effect being an overall reduction in volumes of only -2.3%.

Alex Wright, NAMA LCV Chairman comments, “October saw a 20% year-on-year increase in volume, and only a -5% reduction in value. Whilst first time conversion rates also retracted it was only by a relatively small amount to 77.4% which represents the third best month this year. 

“At 13.3 - the average number of days on site in October is lowest seen all year indicating that the influx of freshly de-fleeted units seen in October were received favourably by the trade.

“There does however, continue to be a growing volume of units with high mileages and/or in poor condition remaining unsold at auction centres.

“Should there continue to be decent volumes of freshly defleeted units arriving in the coming weeks, vendors may find it an even greater challenge to dispose of problem units as we enter what is a traditionally a slow period for volume sales.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA REPORT OCTOBER 2015

Published 18/11/2015

The National Association of Motor Auctions (NAMA) published its monthly market report today for October 2015.

The report shows that the average sales price in October increased by 0.9% to £5,441 from £5,263.

Sales volumes for October rose by 2.4% in comparison to September 2015. In terms of a year on year comparison vehicle auction sales rose by 12.0% from 102,707 in October 2014 to 114,986 in October 2015.

The percentage of vehicles sold first time in October decreased from 85% in September to 80%, a fall of 5%. In Comparison to October 2014 there was no change in the conversion rate, remaining static at 80%.

The price premium for vehicles sold fell from £300 to £250, and the average days on site increased to 7.4 from 7.3 days.

Sale Price by Age Profile in October 2015 compared to October 2014

 

2014

2015

Diff %

Late & Low

£14,975

£14,500

-3.2%

Fleet

£9,050

£9,325

+3.0%

PX (Young)

£6,025

£6,150

+2.0%

PX (Old)

£2,850

£2,950

+3.5%

Budget

£875

£925

+5.7%

NOTES:    Late & Low are cars from: 0 - 2.5 Years

Fleet are cars from: 2.6 – 4.5 Years    PX (young) are cars from: 4.6 – 6.5 Years

PX (Old) are cars from: 6.6 – 10.5 Years     Budget: >10.5 Years

Four out of the five market sectors saw a sales price growth on the equivalent month 2014 with only the late and low sector falling in price on the previous year. There were a significant number of budget vehicles sold during the month at auction maintaining the trend experienced throughout 2015 with prices holding well despite the volume.

Paul Hill, NAMA Chairman comments, “At the wholesale level, first time conversion rates declined in four of the five market segments to below 80%. The exception was the budget sector of the market which delivered an 86.2% first time conversion. Although we have seen a marginal 1.1% fall in new car registrations, October delivered the third highest number of sales at auction during 2015.

“In addition to the fleet volume, dealers continued to clear the decks of overage stock and unwanted part exchange vehicles that arrived on site as a result of new car sales activity in September and October.

“Despite volumes of new cars evening out in during October, we expect that manufacturers will continue with the relentless push to generate new car registrations and vie for market position.

“As always the ever vigilant vendor remarketing partners will need to keep close to the market changes and council wisely at the pre-auction briefings. In addition swift advice will be needed to ensure days to sale are kept to a minimum and the best values are achieved on the day.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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THE RETAIL MARKET IS MANAGING NEARLY NEW EFFECTIVELY

Published 20/11/2015

There is increasing evidence that dealers are managing the growth in nearly new stock very effectively with a fall by over 20 per cent in volumes of vehicles under 2 years old available through the NAMA network in October.

“The capacity of retailers to absorb an increase in the nearly new market is important to sustain residual values. A sustained increase in such stock into the remarketing cycle would clearly be a concern. Encouragingly, the latest NAMA data suggests that that this is not the case,” observes NAMA Chairman Paul Hill.

Whilst concerns of over-supply of nearly new stock into auctions have been unfounded to date; it remains important to recognise that the supply/demand situation is finely balanced. Less stock may have come to market in October, but demand also lightened with a 6 per cent fall in first time conversions. Tellingly, the vehicles under 2 years old category saw a shift towards younger stock. Nevertheless, as Hill concludes, much of this slowing of demand is in line with a welcome return to classic seasonal trends;

“Seasonality is certainly reflected in lower month on month demand for nearly new stock and this reduced demand is evident across most age categories. Our overall confidence in the resilience of the market is derived from a strong year on year increase in remarketing activity. Overall sales this October were up an impressive 12 per cent on the same period in 2014. It does seem that we are seeing sustained consumer confidence feeding through into higher used vehicle sales activity.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles.

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA COMMERCIAL VEHICLE REPORT – NOVEMBER 2015

Published 16/12/2015

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for November today.

The report shows that the average value of used LCV’s at auction across the board increased 0.2% from £4,910 to £4,921 in November. Volumes saw a -7.1% decrease - the second lowest level seen in 2015 but demonstrated an increase of 29% over the same period last year, and the average mileage of LCV’s was down -0.7% to 80,615.

The average price rose for the 7th consecutive month to £4,921 – the highest figure this year, however is -0.5% behind the same period last year. 

The volume of typical fleet vehicles (2-4 years) sold in November dropped to the second lowest level this year. As a result it appears to have pushed buyers into considering younger vehicles, possibly from manufacturer or rental sources as unit sales of vehicles less than 2 years of age were pushed to the second largest volume seen all year together with the highest conversion rate of 72%.

Alex Wright, NAMA LCV Chairman comments, “Sales volumes in November appear to have reduced in line with fresh entries. Activity has been buoyant though, with dealers and traders appearing eager to build stocks and have enough time to prep units in time for the New Year.

“It is also likely that fresh entries in December will be limited so those requiring stock will have been prepared to fight it out in November”.

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Press Officer

Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA REPORT NOVEMBER 2015

Published 16/12/2015

The National Association of Motor Auctions (NAMA) published its monthly market report today for November 2015.

The report shows that the average sales price in November increased by 3.6% from October 2015 to £5,637 from £5,441.

Sales volumes for November declined by -11.8% in comparison to last month. In terms of a year on year comparison, vehicle auction sales rose by 14.9% from 88,288 in November 2014 to 101,453 in November 2015.

The percentage of vehicles sold first time in November fell from 80% in October to 77%, a fall 3%. In comparison to November 2014 the first time conversion rate increased by 1% from 76%.

The price premium for vehicles sold first time fell from £250 to £175, and the average days on site increased to 8.4 from 7.4 days.

Sale Price by Age Profile in November 2015 compared to November 2014

 

2014

2015

Diff %

Late & Low

£15,075

£14,125

-6.2%

Fleet

£8,875

£9,050

+1.97%

PX (Young)

£5,950

£5,925

+0.43%

PX (Old)

£2,875

£2,900

+0.86%

Budget

£925

£925

0.00%

 

Three out of five market sectors saw a marginal sales price growth on the equivalent month in 2014 with the budget sector remaining static. Late and low fell by -6.2% which has continued the trend from October. Once again there has been a significant number of budget vehicles sold during the month, which perpetuates the 2015 trend, with prices holding well.

Paul Hill, NAMA Chairman comments, “At the wholesale level, first time conversion rose in four of the five market sectors compared to November 2014. The exception was the late and low sector of the market which fell to 72.7% from 75% in 2014.

“In addition to the fleet volume, dealers have continued to clear out the overage stock and unwanted part exchange vehicles that have come into stock as a result of new vehicle sales during October and November. This position will remain a difficulty during December.

“The temporary lull in new car activity in October has not stopped the manufacturer’s enthusiasm to register vehicles to achieve their stretch targets during that final push in 2015. Values for December are under pressure with increased volumes of stock and reduced demand. It is anticipated that most vendors will not be holding stock over the year end in anticipation of higher values in the New Year.

“2016 will certainly bring with it more vehicle returns for the first quarter and a continued fight by the manufacturers for increased volumes in the new car market”.

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA REPORT DECEMBER 2013

Published 14/01/2014

The National Association of Motor Auctions (NAMA) published its monthly market report today for December.  

The report shows that during December, the average value of used cars sold at auction across the board increased 10.4% from £5,413 to £5,975, as the average age and mileage of stock sold improved slightly. In particular, the percentage of sub-2.5-year-old vehicles grew at the expense of older stock.

Total transactional activity decreased in December across the trade market, undoubtedly impacted by the festive season. All segments fell in sales volumes in absolute terms. However, in relative terms the decline in volume resulted in more younger vehicles being available proportionally, which consequently had a positive impact on average prices.

Average conversion rate increased slightly to c. 75% versus November and was flat compared to December 2012. With the exception of ‘Late & Low’ which declined 2%, all categories posted at least a 1% increase whilst the older segments of the market increasing by at least 5%.

Price changes December compared to November, by customer type

 

Nov-13

Dec-13

Diff %

Late & Low

£14,475

£16,475

14%

Fleet

£8,475

£8,700

3%

PX (Young)

£5.275

£5,525

5%

PX (Old)

£2,525

£2,675

6%

Budget

£800

£825

3%

 

NOTES:    Late & Low are cars from: 0 - 2.5 Years

Fleet are cars from: 2.6 – 4.5 Years    PX (young) are cars from: 4.6 – 6.5 Years

PX (Old) are cars from: 6.6 – 10.5 Years     Budget: >10.5 Years

For all categories in December, stock had relatively static average mileage and age when compared to the previous month. Though mileage for Fleet and Late & Low profile vehicles increased by 6.3% and decreased 7.5% respectively.

The dramatic fall in 0 to 0.5 year-old vehicle price did not significantly impact on the overall Late & Low grouping as due to the small number of vehicles the youngest age bracket represents, the weighted impact on average price was £200 which, versus the performance of the other age bracket up to 2.5 years did not result in an actual decline in average price.

4x4 and convertible prices during the last 3 months

 

Oct-13

Nov-13

Dec-13

Premium 4x4 SUV

22175

22575

22600

4x4 Lifestyle Cars

10525

10300

10675

Prem Upper Medium Convertibles

11250

10525

10550

General Market Convertibles

6150

6450

6175

The above shows the last 3 months’ prices for Fleet age profile cars (2.6 – 4.5 years). Premium SUVs and Lifestyle 4x4s are continuing their climb in price. As the winter season has arrived and the adverse condition will facilitate some floating buyers’ decision to purchase.

By contrast, prices for general market convertibles have fallen whilst the premium upper medium convertibles have remained largely static in price.

Justin Lane, NAMA Chairman Comments, “As anticipated retail demand in December was slow with buyers returning to the market in the final days running up to Christmas. Many dealers also reported frantic activity in the period leading up to the end of the holiday break at the end of the first week of January. From this point a strong level of Retail demand is expected to last through until the end of the month giving a good start to the year for used car sales.

“However, the negative side is the supply of cars which has been at a reduced level due to the shut down during the festive period. Many of the wholesale channels were closed and contract hire and leasing defleet operations were suspended for the holidays. The result has been a shortage of stock and the subsequent scramble for cars to replace those sold in the New Year period has meant values have been inflated for a short time. As volumes from trade sources settle into their normal rhythm the values are likely to settle and the balance of supply and demand will return to something closer to the usual status quo.

“Demand for 4x4 and crossover SUV product is likely to remain strong during the month as a result of adverse weather conditions. What is already clear is that buyers are now in the market replacing vehicles damaged by flooding and this will help ensure both Trade and Retail demand remains good throughout the month and into February”.

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Assistant
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web:
www.rmif.co.uk Email: rupal.rawal@rmif.co.uk

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.

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NAMA COMMERCIAL VEHICLE REPORT – DECEMBER 2013

Published 16/01/2014

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for December today.

The report shows that during December the average values of used LCV’s at auction across the board increased by 5.4% from £4,512 to £4.757 between November and December.  However, total sales volumes saw a sharp fall of -51.2% with a total of 3,885 units being sold.

Auctions across the country delivered a sound performance in December bringing 2013 to a close on a high note. The average price paid for LCVs and conversion rates both reached a high point for the year whilst sales volumes and the number of entries required to sell each lot fell to their lowest points.

The number of days that LCVs remained on site fell to 11.3 and conversation rates improved by 3% standing at 79%.

2013 closed strongly with the prices being achieved for LCVs having mostly increased with an overall improvement of 5.4%. Disappointingly, the exception to this being a 3.5% fall recorded at 2-4 years. However, as the average mileage for LCVs in this age band grew over the month by a similar percentage, this probably goes some way to explaining the decline.

Across all age bands in December, the falls in volume were of similar magnitude and point toward LCV supply being restricted for some months to come.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “The LCV sector continues to be a marketplace where the outcome is being dictated by the balance between supply and demand.

“Accordingly, with supply looking likely to be limited over the first 6 months of 2014, the prospects for the overall sales performance remain positive although the total revenue generated will be constricted due to volumes being below what could be absorbed.

“In the final NAMA Report for 2013, the data collected from across the auction industry highlighted the strength of demand for LCVs that ensured the year closed on a high note.

“Together with reports of a strong start to the new year, this all points toward a profitable 12-months being there for the taking provided that best-practice is followed”.

 

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Assistant
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web:
www.rmif.co.uk Email: rupal.rawal@rmif.co.uk

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 Trade Association which represents the retail motor industry in Scotland.

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NAMA REPORT JANUARY 2014

Published 12/02/2014

The National Association of Motor Auctions (NAMA) published its monthly market report today for January. 

The report shows that during January, the average value of used cars sold at auction across the board increased 2% from £5,534 to £5,426.

January got off to a strong start in volume terms as traders returned after the festive season, with a total of 113,646 units traded through NAMA member auctions, a 16.5% improvement on January 2013 and 18.3% ahead on a seasonally-adjusted basis.

Late & Low and both PX age segments showed the greatest volume improvement from December to January, although trends over the last twelve months suggest recent volume growth has been driven by older age segments, Budget and PX (Old). Days on site increased from 8.8 to 11.0 days - partly due to vehicles from December being held over to take advantage of the January market.

The typical premium of a vehicle sold first time versus a sale from a subsequent entry rose slightly to £350, or 7% on average as buyers were furnished with greater choice from increased volumes.

Price changes January compared to December, by age profile

 

Dec-13

Jan-14

Diff %

Late & Low

£15,650

£14,250

-9%

Fleet

£8,250

£8,450

2%

PX (Young)

£5.275

£5,300

1%

PX (Old)

£2,525

£2,475

-2%

Budget

£800

£825

3%

 

NOTES:    Late & Low are cars from: 0 - 2.5 Years

Fleet are cars from: 2.6 – 4.5 Years    PX (young) are cars from: 4.6 – 6.5 Years

PX (Old) are cars from: 6.6 – 10.5 Years     Budget: >10.5 Years

 

Average age increased from December 2013 to January 2014 across all categories although mileage was mixed, with younger PX and Budget profile vehicles decreasing.

Despite this, the percentage of original cost new vehicles achieved by age segment increased, except for Late & Low cars, which fell back 0.5%.

Retail demand in January and continuing into the first week of February was a little slower than in the previous weeks which many have put down to a blip in activity driven by the arrival of credit card bills from the festive period.  This has resulted in many potential customers having to direct money away from Retail purchases to satisfy previous commitments. 

Craig Mailey, NAMA Data Group Chairman Comments, “The forecast for February is looking fairly encouraging with retail demand expected to return to previous levels. Trade demand has remained constant with most wholesale routes reporting stock shortages, these are expected to continue until at least the end of the month and quite possibly well into March. 

“This will be exacerbated by the reduction in new car sales, always experienced at the tail of February, with customers holding delivery of their new car until the new plate is launched in March.

“Used values are therefore likely to remain fairly constant reflecting the current state of the market.  We are also now heading to a point where Retail demand for convertibles will start to improve, although with the current state of the weather demand for 4x4 is unlikely to decrease”.

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Assistant
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

 

Web: www.rmif.co.uk Email: rupal.rawal@rmif.co.uk

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.

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NAMA COMMERCIAL VEHICLE REPORT – JANUARY 2014

Published 14/02/2014

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for January today.

The report shows that during January the average values of used LCV’s at auction across the board increased by 1.1% from £4.757 to £4,807 between December and January. Total sales volumes saw a great increase of 9,185 units – a 10% rise over January 2013 and 136.4% increase over last month.

It was positive to see that 77% of LCVs sold at the first time of being offered. The large increase in volume was accompanied by reductions in both age and mileage which resulted in a small rise in average price.

The only negatives came in the form of increases in the time each lot spent on site and the average number of entries it took to achieve a sale. The number of days that LCVs remained on site rose to 15.6 and average mileage fell modestly to 83,788 miles. 

Similar to the effect that January’s uplift in volume had upon average mileage, despite each age band reporting falls, overall, the average price paid for an LCV rose by 1.1%. Much of this is explained by a 14% increase in the numbers of late year models coming under the hammer which helped lift the average to £4,807.

In January, if demand for used LCVs had not remained strong, this surge in volume across all the age bands would have caused problems. Thankfully, with the marketplace getting off to a fast start in 2014, these higher numbers were readily absorbed due to trade and retail buyer demand for all stock.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “The significant increase in volume witnessed in January undoubtedly resulted from those part-exchanges generated by December’s massive spike in LCV registrations. The good news this month however is the 10% rise in volumes over January 2013, and a greater volume than any other month last year.  

“This number of vans and pick-ups passing through the auction halls in January provided both vendors and auction centres with a stiff challenge that had to be met head-on.

“Encouragingly, with the expectation of continued growth across nearly all parts of the UK’s economy, it becomes difficult to remember a better time to be wholesaling used LCVs.

“With the likelihood of an extended run of good fortune in prospect over the months of spring, it seems that providing the laws of supply and demand are adhered to, 2014 is set to deliver another successful trading period to our industry”.

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Assistant
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web:
www.rmif.co.uk Email: rupal.rawal@rmif.co.uk

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 Trade Association which represents the retail motor industry in Scotland.

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NAMA REPORT FEBRUARY 2014

Published 11/03/2014

The National Association of Motor Auctions (NAMA) published its monthly market report today for February.

The report shows that during February, the average value of used cars sold at auction across the board increased 0.3% from £5,426 to £5,442.

Last month recorded a 15.6% drop in volume over January, although this is a seasonal dip given a comparable fall last year. The 95,936 units sold are an increase of 11,991 over the volume sold in February 2013 which is a rise of 14%.

The percentage of vehicles sold first time round improved to 86% driven by improvements in Fleet profile cars, although the Budget segment remains the best performer at 88.3% of vehicles sold first time.

The overall average age of cars sold at auction increased by 3.6 months to 82.4 months year on year and by 1.4 months from January to February 2014. Average mileage also increased by 1,903 miles to 66,794 year on year and by 1,088 since January 2014. The significant reduction in days on site for sold stock and increase in conversion rates suggests a general stock shortage during February.

 

Price changes February compared to January, by age profile

 

Jan-14

Feb-14

Diff %

Late & Low

£14,250

£14,475

2%

Fleet

£8,450

£8,575

1%

PX (Young)

£5,300

£5.225

-1%

PX (Old)

£2,475

£2,500

1%

Budget

£825

£800

-3%

 
 

NOTES:    Late & Low are cars from: 0 - 2.5 Years

Fleet are cars from: 2.6 – 4.5 Years    PX (young) are cars from: 4.6 – 6.5 Years

PX (Old) are cars from: 6.6 – 10.5 Years     Budget: >10.5 Years

 

 

 

 

 

 

Throughout February prices remained broadly stable despite the rising age and mileage in all sectors. The year-on-year average sales price of £5,442 across all ages remained the same.

Craig Mailey, NAMA Data Group Chairman Comments, “Following a slow start to the month, attributed to the arrival of credit card bills from the festive season, activity levels for most of the used car trade grew in line with February expectations.  Finance demand increased progressively as the month wore on and by the end of the month most franchised and non-franchised dealers were reporting good used car sales levels.

“Used car retail activity at the start of March has been very robust, and has come as a welcome surprise to many who expected the focus and demand to be on new cars following this month’s 14-plate change.

“The slight squeeze on used car stock availability evident during the final two weeks of February is lingering into March, but this is expected to fade away as part exchanges from the new registration activity feed through to the auctions in the second and third week of March. 

“This will see dealers and traders replenish stocks at more sensible pricing levels to meet what is expected to be a continuation of the robust used car demand driven by an economy that is growing in strength day by day”.

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Assistant
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web:
www.rmif.co.uk Email: rupal.rawal@rmif.co.uk

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.

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NAMA COMMERCIAL VEHICLE REPORT – FEBRUARY 2014

Published 13/03/2014

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for February today.

The report shows that during February the average values of used LCV’s at auction across the board increased by 0.8% from £4,807 to £4,844 between January and February. Despite the slight rise in value, total sales volumes saw a significant -6.6% fall to 8,583 units, however volumes still remain 20% ahead on February 2013 suggesting there is still a healthy demand for LCVs.

It was positive to see that 77% of LCVs sold at the first time of being offered. The average number of days that LCVs remained on site fell to 12.7 and the average mileage was 84,079 miles.

With February delivering positive news on LCV prices, albeit with an overall increase of just 0.8%, it is perhaps more relevant to reflect that over the past 12 months the average price paid for an LCV lot has risen by £586 (+13.7%).

In February, volumes rose for the oldest and youngest LCV age bands whilst numbers for stock between 2-6 years old fell back to give an overall reduction of 6.6%. At 8,583 units, the current volume of LCVs appearing at auction is being readily absorbed. However, whilst demand for vans has remained solid, the growing number of 4x4 double cab pick-ups and larger minibuses on offer, at a time when the sentiment being directed towards them has faltered, are struggling.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “February delivered robust results and was better indicating as to where the remainder of this year is heading. It would appear that monthly volumes will remain well above 8,000 units and destined to settle above 9,000 before too long.

“Over the medium term, should the average number of LCVs being offered at auction each month top the 10,000 mark, then nothing short of boom conditions across the wider UK economy would prevent price slippage.

“With the dominant factor across each LCV sector over the past 18-months having been the shortage of quality used stock, the sizeable increase in retail and trade demand has driven prices ever higher.

“Looking at the overall market this month it is difficult to predict what 2014 holds for the industry. Taking on board sales volumes of 4x4 double cab pick-ups and above 4.0 tonne minibuses, we have prime examples here of just how quickly the market can change and can only hope for a significant turnaround over the coming months”.

 

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Assistant
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web:
www.rmif.co.uk Email: rupal.rawal@rmif.co.uk

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 Trade Association which represents the retail motor industry in Scotland.

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NAMA AGM RAISES £4,000 FOR BEN

Published 03/04/2014

The National Association of Motor Auctions (NAMA) held its annual AGM on 29 March in Barcelona.

The AGM was well attended by members and the agenda included topics of discussion such as vehicle grading and the monthly car and LCV action reports.

During the AGM it was also announced that Paul Hill from Manheim will be taking over as the new NAMA chairman, and James Tomlinson of Bawtry Motor Auctions has officially been appointed as Vice Chairman

A charity auction in aid of BEN – the automotive industry charity, took place following the AGM and raised an impressive £4,000.

 

ENDS

NOTES TO EDITORS:

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk Email: rupal.rawal@rmif.co.uk

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.

Read More

NAMA REPORT MARCH 2014

Published 09/04/2014

The National Association of Motor Auctions (NAMA) published its monthly market report today for March. 

The report shows that during March, the average value of used cars sold at auction across the board decreased 3.4% from £5,422 to £5,259.

March volumes were almost 10% above those for February with increases across all age profiles, but most notably in PX and Budget as a consequence of the plate change.

First time conversion rates held steady from February, as declines in PX Profile and Budget vehicles were offset by increases for younger vehicles. The fleet profile was the best first-time converting segment at 88.5%.

The premium of first time sold vehicles over those sold at second/subsequent entry rose 8% to £350 in line with the plate change and relative increase in supply, giving buyers more choice. Days on site continued to fall and now stand at an all-time low of 6.8 days.

Price changes in March compared to February, by customer type

 

Feb-14

Mar-14

Diff %

Late & Low

£14,475

£14,725

2%

Fleet

£8,575

£8,675

1%

PX (Young)

£5,225

£5,250

0%

PX (Old)

£2,500

£2,450

-2%

Budget

£800

£750

-6%

NOTES:    Late & Low are cars from: 0 - 2.5 Years

Fleet are cars from: 2.6 – 4.5 Years    PX (young) are cars from: 4.6 – 6.5 Years

PX (Old) are cars from: 6.6 – 10.5 Years     Budget: >10.5 Years

Throughout March average values for younger (Late & Low, Fleet profile) vehicles rose versus February despite volume increases. A decline in the average value of older vehicles, in part due to a surge in their volumes as a consequence of the plate change, also contributed to a decline in the overall average value. Average age increased by one month in each age segment from February and mileage decreased for all age profiles from February except for Late & Low, where the figure increased by over 3%.

Craig Mailey, NAMA Data Group Chairman Comments, “The market in April has continued to show a good degree of positive retail activity in both the new and the used market so far. High new car registration figures recorded for March seem to have had little influence on used car sales volumes which is encouraging as often the focus is so clearly on new cars that used car figures drop significantly.

“With so many used car contacts reporting such strong start to the month, the focus is right back to trying to find used car stock. Despite strong new car sales and resulting volume of part exchanges, independent dealers are still finding it difficult to find the right cars for them and this is evident in prices achieved for low mileage vehicles in good condition both at the block and in the trade as a whole. 

“The outlook for the remainder of the month remains uncertain as is normal for this time of year. With Easter approaching and reasonably good weather expected, there is a concern in the trade that sales may experience a downturn as people take time with their families or seek to enjoy other retail opportunities.

“However, it is certain that values are not likely to see too many major downward movements in the coming weeks.  Even if Retail activity diminishes, buyers still need to bring stock levels back in line so demand will challenge supply for some weeks to come”.

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA COMMERCIAL VEHICLE REPORT – MARCH 2014

Published 14/04/2014

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for March today.

The report shows that during March the average values of used LCV’s at auction across the board decreased by -1.0% from £4,844 to £4,794 between February and March. With volumes increasing by 7.2% the average price paid for an LCV at auction fell by £50. With the proportion of lots selling at the first time of being offered rising to an impressive 82%, and other metrics each continuing to move in the right direction, the outlook remained bright.

The average number of days that LCVs remained on site fell to 12.4 and the average mileage was 83,123 miles.

Although March posted an average price reduction of £50, in view of the 7.2% growth in volume coupled to the typical age of an LCV increasing by 2 months, this should be acknowledged to represent a good outcome.

It was the 16.3% rise in the number of older LCVs being wholesaled over the month that instigated this slippage with prices for each of the other age bands making headway. For the youngest stock, the lift in price was especially marked (+9.3%) which directly relates to the short supply.

With businesses continuing to buy new vans in order to refresh their ageing fleets, it was to be expected that there would be an increase in the volume of used LCVs being auctioned. Accordingly, with the exception of nearly new LCVs, volumes rose across all age bands.

The sharp reduction in the number of late year LCVs coming under the hammer is partly attributable to a growing number of fleet managers who are opting to keep such desirable vehicles in harness in order to meet projected growth in their businesses.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “For a marketplace eager to hear good news, the first quarter of 2014 could hardly have delivered more. The question now is if this will continue its upward trend or has 2014 reached its peak?

“We anticipate that with the UK’s economy proving to be surprisingly robust and predicted to grow by around 3% over each of the next couple of years, it’s clear that there will be a continuing need for good used LCVs.

“The big concern would arise if supply were to significantly exceed demand, yet with no sign of such an impending imbalance at the present time an imminent fall in LCV prices would appear unlikely”.

 

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web:
www.rmif.co.uk Email: rupal.rawal@rmif.co.uk

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 Trade Association which represents the retail motor industry in Scotland.

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NAMA COMMERCIAL VEHICLE REPORT – APRIL 2014

Published 16/05/2014

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for April today.

The report shows that during April the average values of used LCV’s at auction across the board decreased by -2.3% from £4,794 to £4,685 between March and April. Volumes increased by 0.2% to 9,220 units and the average ages of LCV’s sold at auction fell to 68.4 months.

The average number of days that LCVs remained on site fell to 12 and the average mileage was 85,297 miles.

The significant percentage fall in average price recorded in April can largely be attributed to a comparable percentage increase in average mileage. However, despite this slippage, price levels were almost 5% higher than at the same point in 2013.

With most LCVs selling at first time of asking (78%) it is worth noting that on average they achieved a price premium of £320 (+7%) over comparable lots sold in a subsequent sale.

Despite sales volumes remaining static in April, the current level represents a 27% increase in LCVs number over the past 12 months.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “The data contained within this report continues to demonstrate the underlying strength of the marketplace for used LCVs. However, it would appear that prices for each of the LCV age bands we highlight have become more sensitive to changes in volume and average age/ mileage.

“The LCV market is still very strong, however the seasonal drop during May is due to the bank holiday.

“Whilst the consequences of fluctuations affecting the balance between supply and demand are well understood, this sensitivity to relatively subtle changes in age and mileage might surprise vendors”.

 

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web:
www.rmif.co.uk Email: rupal.rawal@rmif.co.uk

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 Trade Association which represents the retail motor industry in Scotland.

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NAMA REPORT APRIL 2014

Published 16/05/2014

The National Association of Motor Auctions (NAMA) published its monthly market report today for April. 

The report shows that during April, the average value of used cars sold at auction across the board decreased 3.4% from £5,259 to £5,153.

Despite the Easter break, volumes were only down 1.1% versus prior month at 109,271, and more than 9% ahead on a seasonally adjusted basis.

First time conversion rates showed a decline from 86% to 75% as an average for the month – figures showed that the weeks surrounding Easter were the poorest.

Price changes in March compared to February, by customer type

 

Mar-14

Apr-14

Diff %

Late & Low

£14,725

£14,900

1%

Fleet

£8,675

£8,975

3%

PX (Young)

£5,250

£5,425

3%

PX (Old)

£2,450

£2,575

5%

Budget

£750

£775

3%

 

NOTES:    Late & Low are cars from: 0 - 2.5 Years

Fleet are cars from: 2.6 – 4.5 Years    PX (young) are cars from: 4.6 – 6.5 Years

PX (Old) are cars from: 6.6 – 10.5 Years     Budget: >10.5 Years

Average values by age profile and the average percentage of original cost new price rose across the board, buoyed by falls in average age and mileage. First time conversions for fleet and younger PX profile cars (2.6-6.5 years old) showed the steepest declines at over 15 percentage points from the previous month to reach seasonal lows of 73% and 69%. This coupled with a steady increase to days on site, may be partly responsible for the apparent robustness of values.

Paul Hill, NAMA Chairman Comments, “With a further increase in new car registrations reported for the month of April it was surprising that the used car market also remained buoyant.  This implies that the market may well have turned a bit of a corner.  Early May has brought better weather and with it other distractions for the retail used car buyer, although it would appear that the sales momentum has not been lost.

 “There is no doubt that there are now more cars in the trade as a result of increased new car sales but generally speaking this has not damaged values too much. However, there is a better choice of product for the trade buyer and conversion rates have shifted as a result. 

“May is expected to be a fairly stable month in terms of used car demand and value performance with the caveat that unless the market takes a marked upturn, concern remains over the buildup of certain unsold product.  If new car sales continue at the current pace, expect a drop in demand for late plate cars especially as retail buyers become tempted by ever better new car deals”.

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA REPORT MAY 2014

Published 10/06/2014

The National Association of Motor Auctions (NAMA) published its monthly market report today for May. 

The report shows that during May the average value of used cars sold at auction across the board rose 5.2% from £5,153 to £5,420.

Overall volumes were down - 5% compared to April, despite the same number of working days and volume declines were seen primarily in older profile cars (>4.5 years old).

In line with seasonal expectations, first time conversion rates continued their downward trend from 75% to 73% as a greater proportion of younger (<6.5 years old) cars failed to sell first time.  However, conversions for older cars (>6.5 years old) improved, supported by falling volumes.

Price changes in May compared to April, by age profile

 

Apr-14

May-14

Diff %

Late & Low

£14,900

£14,725

-1%

Fleet

£8,975

£8,725

-3%

PX (Young)

£5,425

£5,400

0%

PX (Old)

£2,575

£2,600

1%

Budget

£775

£775

0%

 

NOTES:    Late & Low are cars from: 0 - 2.5 Years

Fleet are cars from: 2.6 – 4.5 Years    PX (young) are cars from: 4.6 – 6.5 Years

PX (Old) are cars from: 6.6 – 10.5 Years     Budget: >10.5 Years

 

Despite rising average age and mileage, average values for the older (>4.5 years old) age profiles were significantly low, supported by falling volumes. By contrast, average values for younger (Late & Low, Fleet) profile cars came under pressure despite further falls to first time conversion rates.

Paul Hill, NAMA Chairman Comments, “New car sales continue at unprecedented levels for the time being pushed further and faster by the manufacturers eager to keep new car stock levels across Europe at a manageable level. However, in recent weeks the used car market has shown a slight fluctuation with a drop in retail interest that appears to have coincided with both the bank holiday weekends and the improvement in the weather.

 “The sub £5k market remains specifically strong and there is good demand for smaller cars that give the lower running costs that help keep monthly household costs at an acceptable level. Equally there is specific strength in the specialist market over and above £15k where buyers are looking for second cars or something a little different. Weakness lies in the late plate low mileage sector which is still being affected by the fantastic offers on new cars that draw buyers away from used examples.

 “The latter part of June may see a mild drop in Retail activity and this will be as a direct result of the World Cup. Previous major sporting events of this type have tended to have an adverse impact on used car sales as the nation rallies to support their team of choice although demand tends to return to previous levels following the event. There is also a high chance of pent up demand in the following weeks which may result in a spike in values”.

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

Read More

NAMA COMMERCIAL VEHICLE REPORT – MAY 2014

Published 13/06/2014

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for May today.

The report shows that during May the average values of used LCV’s at auction across the board increased by 5.1% from £4,685 to £4,924 between April and May. Volumes saw a 9% to 8,394 units and the average ages of LCV’s sold at auction fell to 66.6 months.

The average number of days that LCVs remained on site went up from 12 to 14 days, and the average mileage fell -4% from last month to 81,867 miles.

The significant percentage rise in average price recorded in May was attributable to increases delivered by the newest and oldest LCV stock. An overall monthly rise of 5.1% lifts the average price of an LCV sold at auction by 14% above where it stood a year ago.

To the end of April, as registrations of new LCVs had increased by 12%, it would have been reasonable to expect that this would have generated additional used van and pick-up stock. However, in May overall sales volumes fell by 9% which, with conversion rates having now slipped by 4% over consecutive months, suggests that demand dipped over the Bank Holiday weeks.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “A sharp fall in volume and a significant reduction in age suggest the strong returns enjoyed by vendors in May could mark the high point for prices in 2014.

“With sales volumes and age having moved downwards as prices leapt forward in May, this is a pattern which is unlikely to continue over the summer. Encouragingly, some vendors have already aligned their expectations to this reality.

“Accordingly, despite the prospect of lower price levels over the next couple of months, conversion rates should hold firm which will position LCV wholesalers to take full advantage of any autumn uplift”.

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web:
www.rmif.co.uk Email: rupal.rawal@rmif.co.uk

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 Trade Association which represents the retail motor industry in Scotland.

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NAMA REPORT JUNE 2014

Published 11/07/2014

The National Association of Motor Auctions (NAMA) published its monthly market report today for June. 

The report shows that during June the average value of used cars sold at auction across the board decreased -0.7% from £5,420 to £5,381, however were still up 4.9% on June 2013.

Overall volumes were up 2.7% compared to May, and volume increase was the greatest in fleet profile cars (2.6-4.5 years old) at 6.7% and lowest for older PX cars (6.6-10.5 years old) at 0.7%.

First time conversion rates improved their recent downward trend, recovering from 73 to 77% with improvements across all age profiles as market interest increased. The premium of first time sold vehicles over those sold at second/subsequent entry held firm at around 7% (£325). Although increasing for the third successive month, growth in average days on site for sold stock shows signs of tapering, rising only marginally to 9.2 days.

Price changes in June compared to May, by age profile

 

May-14

Jun-14

Diff %

Late & Low

£14,725

£14,575

-1%

Fleet

£8,725

£8,575

-2%

PX (Young)

£5,400

£5,175

-4%

PX (Old)

£2,600

£2,525

-3%

Budget

£775

£720

-3%

NOTES:    Late & Low are cars from: 0 - 2.5 Years

Fleet are cars from: 2.6 – 4.5 Years    PX (young) are cars from: 4.6 – 6.5 Years

PX (Old) are cars from: 6.6 – 10.5 Years     Budget: >10.5 Years

Rising age, mileage and conversion rates contributed to the average price decline in each segment, although the downward trend follows the typical seasonal pattern.

Paul Hill, NAMA Chairman Comments, “New car sales have continued at the unprecedented levels we have experienced all year and this has been a bit of a surprise for some in the trade. Should this inflated level of new car sales continue into 2015 we may begin to see a potential problem on the horizon, but with European markets beginning to see sustained improvement in sales, production volume should soon be diverted back to the markets for which it was originally intended.

“The outlook for July remains positive and the trade as a whole look set to enjoy continued retail demand. What is encouraging from a buyer perspective is a slight increase in volume of ex fleet product which is expected to continue to boost choice in the market. This may further invigorate retail sales as the product offering is likely to become more varied. This increase in fleet volume will continue for some months to come and may herald a softening of values for certain mainstream models.

“In summary a good month is expected across the board. If there is any risk it will be a mild slowdown towards the end of the month as the schools break up and families take their summer holidays. However this can also have a positive side as family car sales tend to improve during this period.”

 

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA COMMERCIAL VEHICLE REPORT – JUNE 2014

Published 15/07/2014

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for June today.

The report shows that during June the average values of used LCV’s at auction across the board decreased by -1.7% from £4,924 to £4,839 between May and June. Volumes saw a 3% rise, and the average ages of LCV’s sold at auction fell to 66.1 months.

The average number of days that LCVs remained on site went up to 14.8 days, and the average mileage increased 3% from last month to 84,316 miles.

In June, a slight decline in average price (-1.7%) was attributable to the weaker performance delivered by newer stock. Despite this decline, the average price paid for LCVs rose by 13% above where they were standing a year ago.

With sales volumes rising, June continued the robust levels of demand witnessed across the wholesale marketplace over the past 18-months. However, following what are likely to be some slower months over the summer, it is hoped that September will bring equilibrium to the balance between supply and demand.

Paul Hill, NAMA Chairman Comments,” With sales volumes rising, June continued the robust levels of demand witnessed across the wholesale marketplace over the past 18-months. However, following what are likely to be some slower months over the summer, it is hoped that September will bring equilibrium to the balance between supply and demand.

“Despite closing on a low note, the first half of 2014 has marked the successful conclusion of 6 months when demand had held firm for most used LCVs, driving prices to levels that were well above expectation.

“Although the next 6 months are likely to provide our industry with a fresh set of challenges, following sluggish demand in July and August, there is little reason to be pessimistic over prospects for the remainder of the year.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web:
www.rmif.co.uk Email: rupal.rawal@rmif.co.uk

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.

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NAMA REPORT JULY 2014

Published 14/08/2014

The National Association of Motor Auctions (NAMA) published its monthly market report today for July. 

The report shows that during July the average value of used cars sold at auction across the board increased 4% from £5,381 to £5,595, a 14% increase versus July 2013 and reflective of the higher proportion of younger cars now in the mix.

Overall volumes were down 5% versus June at 101,190, but up 1% versus July 2013, and volume decrease was greatest for older PX profile cars (6.6-10.5 years old) and Budget (>10.5 years old) at -7.6% and -10.2% respectively.  This contrasts with Late & Low, which continued its increase by 5.3% to 12,797 cars.

First time conversion rates for sold stock continued its upward trend, increasing from 77% to 79% with improvements across all age profiles as market interest increased.

The premium of first time sold vehicles over those sold at second/subsequent entry held firm at around 7% (£325). After three successive increases in average days on site for sold stock, this indicator fell back slightly for July from 9.2 to 8.7, but still remains higher than July 2013 where it was 8.2.

Price changes in July compared to June by age profile

 

Jun-14

Jul-14

Diff %

Late & Low

£14,575

£14,550

0%

Fleet

£8,575

£8,525

-1%

PX (Young)

£5,175

£5,225

1%

PX (Old)

£2,525

£2,550

1%

Budget

£750

£775

3%

NOTES:    Late & Low are cars from: 0 - 2.5 Years

Fleet are cars from: 2.6 – 4.5 Years    PX (young) are cars from: 4.6 – 6.5 Years

PX (Old) are cars from: 6.6 – 10.5 Years     Budget: >10.5 Years

Falling volumes yet steady buyer interest contributed to the average price increase in the PX and Budget profile segments, although rising age and mileage amongst Fleet profile cars resulted in a net average decline in values achieved. The original cost new percentage for all profiles remains substantially below the value attained during July 2013.

Paul Hill, NAMA Chairman Comments, “Retail activity during July was an interesting mix for both franchised and non-franchised dealers alike.  The early part of the month seemed to be quite active with plenty of calls and good footfall.  However, this changed around the middle of the month and interest waned with dealers citing the improvement in the weather, the Commonwealth Games and the start of the school summer holidays.

“The beginning of August saw a change in fortunes once more and retail activity improved notably for the trade as a whole.  This looks set to continue through to the end of the month and into the first weeks of September. August is traditionally a month of limited defleet activity as buyers wait for the new plate in September.  As such, this creates a challenging environment for the trade buyer and an opportunity for the trade vendors.  Trade buyers have to fill empty spaces on the forecourt and as such will buy just about anything they can to attract buyers. 

“In summary a reasonably good month is expected from a retail perspective, although finding the stock to feed the retail demand will be a little more difficult than usual.  Naturally this means that trade vendors will also benefit from the opportunity to sell the lower quality and repeatedly unsold stock that has been clogging the trade for some months.”

 

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA COMMERCIAL VEHICLE REPORT – JULY 2014

Published 18/08/2014

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for July today.

The report shows that during July the average values of used LCV’s at auction across the board increased by 2.2% from £4,839 to £4,645 between June and July. Volumes saw a 3.8% rise, and the average ages of LCV’s sold at auction fell to 63.9 months.

The average number of days that LCVs remained on site went down to 14.3 days, and the average mileage decreased -3.5% from last month to 81,393 miles.

In July, the average price paid for an LCV rose from £4,839 to £4,945 (+2.2%).

The total number of LCVs sold at auction in July increased by 329 units (+3.8%).

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “Despite predictions that with increased volume prices would decrease, we are seeing the opposite happening. July saw volumes up by 20% and prices up by 19%. The economy is growing and this is reflected in the commercial market.

“The 8 year and over market has dominated the sector for a long time starving buyers of younger stock, but the yellow line is finally shrinking and later plate vehicles are slowly appearing. We predict this trend will continue and 4-5 year old vehicles will take over as more enter the market.

“Once again the market data presented in this NAMA report illustrates the underlying strength of demand for LCVs at all years and clearly bodes well for sales prospects over the coming months.”

 

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web:
www.rmif.co.uk Email: rupal.rawal@rmif.co.uk

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.

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NAMA GRADING SCHEME HITS 1.5MILLION MARK

Published 26/08/2014

The National Association of Motor Auctions (NAMA) is pleased to see that almost 1.5million vehicles have been sold through the NAMA grading scheme since its launch 2 years ago.

The scheme which consists of 5 grades has been introduced by NAMA members, and is designed to facilitate the buying and selling process of a new car by giving both parties a better understanding of the vehicle condition.

The grades are determined on a points system allocated by type and severity of damage which are assessed by specially trained inspectors at each auction. There is also an unclassified grade for vehicles that are badly accident damaged or require high levels of repair. 

Head of NAMA Louise Wallis comments, “NAMA grading has become hugely important in the sales process of vehicles at auction.

“It is encouraging to see that such a significant number of vehicles have been sold as a result of the scheme, and we hope that more auction houses will adopt this method going forward”.

 

 

ENDS

NOTES TO EDITORS

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk Email: rupal.rawal@rmif.co.uk

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.

Read More

NAMA REPORT AUGUST 2014

Published 12/09/2014

The National Association of Motor Auctions (NAMA) published its monthly market report today for August. 

The report shows that during August the average value of used cars sold at auction across the board decreased -1.5% from £5,595 to £5,512, although this remains 12% above the average price achieved in August 2013.

Overall volumes were broadly flat versus July at 101,944, but up 8% versus this time last year. However, the profile of vehicles has changed, with fewer Fleet profile cars against a growth in older PX profiles in particular, raising the average age of vehicles sold to 83.1 months from 81.5.

First time conversion rates for sold stock continued to improve, albeit at a slower rate, increasing from 79% to 80% and the premium of first time sold vehicles over those sold at second/subsequent entry (on a consistent basket basis) rose to a high of £375, although at 8%, the difference remains around the average expected.

Price changes in August compared to July by age profile

 

Jul-14

Aug-14

Diff %

Late & Low

£14,550

£14,900

2%

Fleet

£8,525

£8,625

1%

PX (Young)

£5,225

£5,175

-1%

PX (Old)

£2,550

£2,550

0%

Budget

£775

£775

3%

NOTES:    Late & Low are cars from: 0 - 2.5 Years

Fleet are cars from: 2.6 – 4.5 Years    PX (young) are cars from: 4.6 – 6.5 Years

PX (Old) are cars from: 6.6 – 10.5 Years     Budget: >10.5 Years

 

Falling supply of late & low and fleet profile vehicles buoyed price and conversion rates for cars in these age ranges; this contrasts with PX and older vehicles where first time sale rates suffered with an increase in supply versus July. Values remain higher than one year ago across all age profiles despite broadly similar age/mileages, with an average %OCN at 1.4 percentage points above that achieved in August 2013.

Paul Hill, NAMA Chairman Comments, “August is always an interesting month in the auction market, and this year it represented challenges similar to those experienced in previous years. Retail activity was varied with the weather seeming to play a key part in when buyers actually came to the dealerships. Weekends were ominously quiet at times yet mid-week was often busy for many.

 “With holidays out of the way, the first week of September was predictably subdued from a used car perspective. With focus on new car sales, vehicle hand overs and family buyers distracted by children returning to school, it was not until the second week that used car retail activity started to pick up. This actually works well with the dealers as it gives time for them to concentrate on new car fulfilment.

“In summary, we expect September will be an active month for all. The choice of trade stock will improve offering trade buyers some interesting alternatives, which in turn will provide retail buyers with an improved selection of cars to choose from.”

 

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA COMMERCIAL VEHICLE REPORT – AUGUST 2014

Published 16/09/2014

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for August today.

The report shows that during August the average values of used LCV’s at auction across the board decreased by 0.3% to £4,928 between July and August. Volumes saw a -8.7% fall, and the average age of LCV’s sold at auction fell to 63.8 months.

The average number of days that LCVs remained on site went down to 13.8 days, and the average mileage decreased -3.5% from last month to 81,393 miles.

In August, the average price paid for an LCV was slightly lower £4,928 (-0.3%).

The total number of LCVs sold at auction in August decreased by 789 units (-8.7%).

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “With most of us taking our holidays in August, this is destined to always be a slow month with little trade activity. In the main, the data contained within this NAMA LCV Report delivered good news, yet with sales volumes having slipped significantly (-8.7%) it is likely that the small reduction in average price (-0.3%) would have been more pronounced if the number of LCVs being wholesaled had remained high.

“For September it is reasonable to expect increased demand across all light commercial vehicle sectors with even 4x4 double cabs performing somewhat better than seen over the past 12 months. However, across most light commercial vehicle sectors, price levels are approaching a high point in the current cycle.

“Accordingly, in order to extract the maximum return from each lot, vendors should ensure that they consistently present their stock to its best advantage. If not, the risk is that trade buyers might soon begin to view such LCVs as being overpriced which would lead inevitably to problems.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web:
www.rmif.co.uk Email: rupal.rawal@rmif.co.uk

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.

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NEW NAMA COURSE WILL STANDARDISE VEHICLE CONDITION APPRAISING

Published 06/10/2014

As part of an initiative to standardise vehicle condition appraising within the UK motor industry, and underpin its national vehicle grading scheme, the National Association of Motor Auctions (NAMA) has launched a specialised course for vehicle appraisers.

The comprehensive two-day training course, which is accredited by the Institute of the Motor Industry (IMI), will be run at Stephenson College in Leicestershire. It will help candidates to qualify faults and severity levels to a consistent standard, and to justify decisions utilising the NAMA standards for appraisal.

Candidates will also gain an in-depth understanding of the benefits of standardisation for both buyers and sellers alike, and the importance of such a role in setting a new standard for the UK motor industry as a whole.

Successful attendees will be rewarded with the “NAMA Accredited Appraiser” qualification, and a regular audit process will ensure that the highest standards of vehicle appraisal are maintained throughout the industry.

NAMA Chairman Paul Hill comments, “Working with a respected higher education facility that was able to meet our specific requirements was extremely important to us. Stephenson College rose to the challenges presented, and the results and feedback from the first course are testament to the professional specialised course delivery, and bode well for this exciting new partnership.  By the end of 2015, our six hundred candidates will have gained this new qualification.

“1.5million vehicles have now been appraised utilising the NAMA vehicle grading scheme, which makes the condition of a vehicle visible and transparent, thereby creating trust in its description.

“That is something that is key for both buyer and seller. The newly introduced supporting training course will help to develop an unprecedented competency framework.  Until now there has been no single motor industry vehicle grading standard, and the team at NAMA have worked tirelessly over a period of years to define and introduce a national vehicle grading scheme – the immediate and long-term benefits of which will be felt throughout the UK motor industry.”

The course also received praise at Ministerial level, with the Secretary of State for Transport, The Rt Hon Patrick McLoughlin MP commenting, “The transparent grading of used vehicles within the UK Motor Industry can only be of benefit and the NAMA Vehicle Grading Scheme, underpinned by professional training and associated qualifications, provides the perfect foundation for this.” 

 

ENDS

NOTES TO EDITORS:

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk Email: rupal.rawal@rmif.co.uk

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.

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NAMA COMMERCIAL VEHICLE REPORT – SEPTEMBER 2014

Published 16/10/2014

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for September today.

The report shows that during September the average values of used LCV’s at auction across the board increased by 0.8% from £4,645 to £4,967 between August and September. Volumes saw a -3.2% decline, and the average age of LCV’s sold at auction rose to 65.4 months.

The average number of days that LCVs remained on site went down to 12.9 days, and the average mileage increased from 81,521 to 82,147 miles.

The average price paid for an LCV in September stood at £4,967 which represents an uplift of more than 14% over the same month last year.

The total number of LCVs sold at auction in September decreased by 265 units and now stands just 0.78% above the comparable figure for this same month in 2013.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “With increases in both average age and mileage doing little to hinder LCV prices moving higher, the figures in September make for impressive reading. There were welcome falls in both the number of days an LCV remained on site and entries taken to achieve a sale. Notably, a 4% improvement in the number of lots selling at the first time of asking underscored the benefits to be gained when reserve prices are set at realistic levels.

“Within this robust marketplace, there is undoubtedly a high level of demand for most types of LCVs which bodes well for the closing months of 2014. However, with manufacturers continuing to offer big discounts on new vans and pick-ups, trade buyers are wary of holding too much expensive, late year stock.

“Provided that the UK’s economy continues to avoid the worst of the financial turmoil being experienced across the channel, demand for both new and used LCVs is expected to hold firm into 2015.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web:
www.rmif.co.uk Email: rupal.rawal@rmif.co.uk

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.

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NAMA REPORT SEPTEMBER 2014

Published 17/10/2014

The National Association of Motor Auctions (NAMA) published its monthly market report today for September. 

The report shows that during September the average month-on-month value of used cars sold at auction across the board decreased -2.1% from £5,512 to £5,995, however, the overall average sales price across all ranges increased 5% in comparison with September 2013.

Overall sales volumes for September were down 2.7% on the previous month at 99,165 and 3% down on the same period in 2013.

First time sale conversion rates increased from 80% to 84% between August and September and reflected the shortness of stock in relation to trade demand. However this was 2% down on the 86% recorded in 2013.

The price premium of vehicles sold first time round has dipped by £25 between August and September to £350, although the percentage remained consistent at 8%, and the average days on site declined from 8.4 days to 7.8 days, although this was up 0.6 days on the same period in 2013.

Sales Volumes by profile in September 2014 compared to September 2013

 

2013

2014

Diff %

Late & Low

12,071

11,978

-1%

Fleet

22,446

22,064

-2%

PX (Young)

16,513

13,927

-16%

PX (Old)

37,798

33,142

-5%

Budget

15,998

18,054

13%

NOTES:    Late & Low are cars from: 0 - 2.5 Years

Fleet are cars from: 2.6 – 4.5 Years    PX (young) are cars from: 4.6 – 6.5 Years

PX (Old) are cars from: 6.6 – 10.5 Years     Budget: >10.5 Years

The young PX sector has seen the largest variance year on year dropping 16% and the overall variance from September 2014 to September 2013 saw a decline of -2.7%.

Paul Hill, NAMA Chairman Comments, “Used car activity tends to take second place to new car activity during September, although this year dealers had to work as efficiently as possible to cater for the intense new car demand and strong used car demand.

“From a stock perspective it would appear that the trade is starting to see an increase in available cars. These are both fresh cars and unsold examples. Whilst September’s conversion rates were good, October has seen a reduction as buyers react to the drop in retail used car sales. For the larger franchised dealers there is also hesitancy towards buying at the end of the month, due to the requirement to pre-register ever increasing volumes from a wide variety of manufacturers.

“In summary, October could be the turning point that we have all suspected has been coming. It would seem that the market is no longer dictated by the vendor and the balance is shifting in favour of the buyer. Retail deals will still be there to be had but dealers will have to work just that little bit harder to close the deal.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

Read More

NAMA COMMERCIAL VEHICLE REPORT – OCTOBER 2014

Published 14/11/2014

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for October today.

The report shows that during October the average values of used LCV’s at auction across the board increased by 4.2% from £4,967 to £5177 between September and October. Volumes saw a 3.4% increase, and the average age of LCV’s sold at auction rose to 65.5months.

The average number of days that LCVs remained on site fell to 11.5 days, and the average mileage increased from 82,147 to 83,843 miles.

The average price paid for an LCV in October stood at £5,177 - which represents an uplift of more than 11% over this same month last year.

Despite having increased by 274 units, the total number of LCVs sold at auction in October stood 9% below the comparable figure for this same month in 2013.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “The data delivered in this month’s report highlights the strength to be witnessed in October across the entire marketplace for used light commercial vehicles. Despite increases in volume, age and mileage, the average lot achieved a higher price with the proportion selling at the first time of being offered rising by 3.4%.

“Comparing the year-on-year position across these LCV sectors underscores just how robust demand has been over the last 12-months, with average prices increasing an impressive 11%. In my quarter century of being on the rostrum, the market has reached a 25 year high. In a lot of cases it would make sense for retail buyers to purchase new stock, but it is only the reluctance of SME’s to commit to funding agreements which carries on pushing LCV demand to such high levels.

“How long this market is going to carry on is the big question within the CV industry. At our most recent NAMA committee meeting the guides and the auction houses all raised their own concerns and opinions, but we all agreed that we are on a zenith of a large cycle.  

“October prices have been pushed even higher with the UK entering the retailers golden quarter. This has a big impact on demand for all commercial vehicles, and this traditional cycle has only increased over the years with the effect of internet deliveries. For the short term over Christmas the market will stay strong, but as the report suggests, there are too many European and worldwide events which may happen and could affect our economy and the commercial vehicle market.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web:
www.rmif.co.uk Email: rupal.rawal@rmif.co.uk

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.

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NAMA REPORT OCTOBER 2014

Published 14/11/2014

The National Association of Motor Auctions (NAMA) published its monthly market report today for October. 

The report shows that during October the average month-on-month value of used cars sold at auction across the board decreased -2.4% to £5263 in comparison to September 2014, however, the overall average sales price across all ranges increased 1% in comparison with October 2013.

Sales Volume across all ages has increased by 3.6% to 102,707 cars in comparison to September 2014 although it is down 5 % on the same period in 2013.

The volume of vehicles sold first time at auction has dropped 4% from September 2014 to 80% in October 2014 signifying a more challenging market and possibly an increase in the volume of stock on offer. This is also 3% below the 83% recorded in October 2013.

The price premium of vehicles sold first time round has dropped significantly to £250. This is £100 less than September 2014 although interestingly it is the same level as this time last year. The average days on site remained the same as last month at 7.8.

Sales Volumes by profile in October 2014 compared to September 2014

 

Sep-14

Oct-14

Diff %

Late & Low

11,978

9,063

-24.3%

Fleet

22,064

22,493

-1.9%

PX (Young)

13,927

13,360

-4.1%

PX (Old)

33,142

33,325

6.6%

Budget

18,054

22,466

24.4%

NOTES:    Late & Low are cars from: 0 - 2.5 Years

Fleet are cars from: 2.6 – 4.5 Years    PX (young) are cars from: 4.6 – 6.5 Years

PX (Old) are cars from: 6.6 – 10.5 Years     Budget: >10.5 Years

There was a significant decrease in volume from the Late and Low Sector to the Budget sector, however overall volumes were up in the month. The Old P/X sector also records an increase of 6.6%. The overall variance from October 2014 to October 2013 is a downward move of 4.8%, and the Overall pattern supports the high volume of new car sales experienced over the last couple of months.

Paul Hill, NAMA Chairman Comments, “Used Retail activity in October took a significant downturn to the surprise of some retailers despite the warning signs earlier in the month.

“By the start of November the number buyers in the used market seemed to have increased slightly although footfall now remains lower than it was at the beginning of October. This is more a seasonal feature of the UK market rather than an exception as buyers focus on the impending festive season. For this reason, Retail sales for the remainder of November will continue to be challenging and retailers will need to work hard and fast on the customer to gain commitment. Prices need to be keen and the deals strong.

“As a direct result of lower retail sales, trade demand is also running at a reduced level. This is significant because it is the first time for a couple of years that vendors have found themselves in what is rapidly becoming a ‘buyers’ market.

“In summary, November looks to be as demanding as ever from both a trade and retail perspective. The need for a direct and flexible approach with retail buyers will dictate how badly the trade will be hit in price and unsold volume terms.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA COMMERCIAL VEHICLE REPORT – NOVEMBER 2014

Published 15/12/2014

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for November today.

The report shows that during November the average values of used LCV’s at auction across the board decreased by -4.4% from £5177 to £4,948 between October and November. Volumes saw a -13.2% decrease, and the average age of LCV’s sold at auction rose to 66.3 months.

The average number of days that LCVs remained on site rose to 13.2 days, and the average mileage decreased from 83,843 to 82,772 miles.

Despite the average price paid for an LCV in November falling to £4,948 (-4.4%) this still represents an increase of 10% over the same month last year.

At 7,177, the total number of LCVs sold at auction in November fell sharply across all age bands. Compared to this same month in 2013, this represented an overall fall of 10%.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “In November, although the trade’s appetite for clean stock at all years held firm, the prices that they were prepared to pay for it did not.

“The fall in average price of 4.4% would undoubtedly have been more marked if there had not been sizeable reductions to both overall volume and average mileage. However, despite a rise in average age, the momentum exhibited by the wholesale LCV marketplace throughout 2014 was maintained with an impressive 82% of lots selling at the first time of being offered.

“We are confident that the currently high level of demand from both trade and end-user buyers for all clean stock will be maintained with the New Year getting off to a brisk start."

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web:
www.rmif.co.uk Email: rupal.rawal@rmif.co.uk

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.

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NAMA REPORT NOVEMBER 2014

Published 15/12/2014

The National Association of Motor Auctions (NAMA) published its monthly market report today for November.

The report shows that during November the average month-on-month value of used cars sold at auction across the board increased 9% from £5,263 to £5,736. This is also 6% higher than November 2013, and could indicate that there is more demand for late plate cars in the market.

Sales volumes for November 2014 were down by a significant 14% in comparison to the previous month - although a more reasonable 7% against November 2013. This reflects a marked slowdown in the market perhaps more pronounced than many expected.

The number of cars sold first time during November 2014 has dropped to 76% from 80% in October which continues the downward trend of the past three months. At 76% this figure is 3% lower than the 79% recorded during November 2013.

The price premium for vehicles sold first time round continued to drop in November 2014 moving down a further £50 to £175 from the £250 achieved in October 2014 and represents a 3% premium. This is also £25 less than November 2013. The average days on site increased to 9.1 days.

Sales Volumes by profile in November 2014 compared to October 2014

 

Oct-14

Nov-14

Diff %

Late & Low

9,063

10,278

13.4%

Fleet

22,493

21,122

-6.1%

PX (Young)

13,360

11,199

-16.2%

PX (Old)

33,325

28,105

-20.4%

Budget

22,466

17,584

-21.7%

NOTES:    Late & Low are cars from: 0 - 2.5 Years

Fleet are cars from: 2.6 – 4.5 Years    PX (young) are cars from: 4.6 – 6.5 Years

PX (Old) are cars from: 6.6 – 10.5 Years     Budget: >10.5 Years

There was a significant drop in sold volumes - indicative of the market at this time of year. The Late and Low sector also raises questions of what is actually driving increased sales volumes in this sector, and the overall variance in sales volume from November 2013 to November 2014 was a downward move of 14%.

Paul Hill, NAMA Chairman Comments, “Appreciating that the new car market continues to perform well as a direct result of the succession of retail PCP deals and deep rooted business demand, the used car market merely stabilised during the final weeks of November at a level that could only be described as acceptable.

“This rather dictatorial state of play will continue for the first couple of weeks of December as the vast majority of the UK focus on preparing for the Christmas and New Year period. However, retail activity will begin to pick up in the final weeks of the month ready for a big push over the New Year and into the first few days of January.

“In summary December will be little different from previous years with low demand and low stock levels. Those vendors that must clear stock by the end of the year will be best placed to do this in the final week of trade activity, as retail demand drives the start of the increase in trade demand that will bounce back properly in early January.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Communications Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

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.

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NAMA COMMERCIAL VEHICLE REPORT - DECEMBER 2012

Published 17/01/2013

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for December today.

The report shows that during December the average values of used LCV’s at auction across the board increased from £4,500 to £4,700, equivalent to a 4% increase between November and December.

Total sales fell significantly in December from 4,082 to 3,551, representing a month-on-month reduction of 13%.  This was in fact the lowest number of sales recorded in any month in 2012. Yet despite this, and the fact that average mileage was at a high point, the average overall price was just £85 below the best price achieved this year.

Current market conditions confirm the underlying strength of the used LCV market and brought a difficult 2012 to a close on a more positive note.

Although the 2013 market is difficult to predict, if the limited amount of stock that will be available over the coming months is properly presented in sensible numbers and well marketed to the right customer base, 2013 could generate some impressive returns

Whilst the majority of the market performed well in December, the under 2 years old sector suffered a small decline of 1%. To some extent, this is due to dealer’s natural reticence to hold stock over the festive period.

Above is the full year performance for prices for first time entries compared to prices at subsequent sales. Evidence shows that in general, the first bid is clearly the best bid.

Alex Wright, Chairman of the NAMA Commercial Vehicle Group commented “Whilst the prospects for sales of new light commercial vehicles remain subdued, each of the used LCV sectors look poised to perform strongly during January. However with so much uncertainty surrounding the wider economy, the 2013 market remains difficult to predict.  

“A sensible resolution for 2013 would be that best practice will consistently be followed in respect of managing every aspect of the fleet disposal process. In these challenging times, the reward for this will be that supply eases as we move into 2014 and higher prices will have been established that we can then build on.”  

ENDS

Notes for editors:

Keely Scanlan, Press Officer

Tel: 020 7307 3410

Mob: 07825097697

Press Office direct line: 020 7307 3422

Press Office fax: 020 7307 3406

Web: www.rmif.co.uk Email: keely.scanlan@rmif.co.uk

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.

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NAMA REPORT JANUARY 2013

Published 20/02/2013

 The National Association of Motor Auctions (NAMA) published its monthly market report today for January.


The report shows that during January the average values of used cars sold at auction across the board decreased from £5,402 to £4,856, equivalent to a 10.7% reduction between December and January. This can largely be attributed to the high volume of older cars sold at auction during January having a negative impact on the average price.


In fact sales activity increased substantially in January, particularly in the dealer part exchange sector. Although this is in line with normal seasonal changes the increase was much larger than in previous years.  


However the average price of vehicles sold was down across all three sectors, although a low supply of 2.5 – 4.5 year old vehicles helped to stabilise the fleet sector which saw a price decline of only 0.6%.

Prices in the manufacturer/rental and dealer part exchange sectors fell whilst the shortage of good ex-fleet stock kept prices stable in that sector. The larger decline experienced in the dealer part exchange sector is less surprising and in line with seasonal changes. The 4% growth achieved in December in the dealer part exchange sector, which resulted in it unusually outpacing the fleet sector, can therefore be concluded as a ‘one-off’.


However when comparing the price movement versus January 2012, the fleet sector showed an increase of 12% – and that the average price in vehicles in the dealer sector also showed double-digit growth.


Tony Gannon, NAMA Executive Committee Member said "NAMA believe that the current pricing levels are likely to be maintained, although they will be subject to some short-term volatility.


“There continues to be strong competition amongst buyers for the most desirable vehicles and this shows no sign of waning. The low supply of three year old vehicles as a consequence of poor new car sales in 2009/2010 will continue during 2013. This is likely to result in the continued buoyancy of prices in the fleet sector due to the limited amount of quality vehicles it has to offer.”


ENDS


Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.


Keely Scanlan, Press Officer

Tel: 020 7307 3410

Mob: 07825097697

Press Office direct line: 020 7307 3422

Press Office fax: 020 7307 3406


Web: www.rmif.co.uk Email: keely.scanlan@rmif.co.uk

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. 

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NAMA REPORT FEBRUARY 2013

Published 19/03/2013

The National Association of Motor Auctions (NAMA) published its monthly market report today for February.

The report shows that during February the average values of used cars sold at auction across the board increased from £4,856 to £5,359, equivalent to a 10% increase between January and February.

The increase in average values can, in part, be attributed to the change in mix of vehicles sold with a higher volume of younger cars sold at auction during February having a positive impact on the average price.

However on a like for like market sector basis, values were also up. This can be credited to a shortage in supply along with evidence of increased confidence amongst buyers.



The price difference between first time entries compared to subsequent sales has been closing in recent months. Whilst the gap widened from £100 to £375 this month the proportion of younger cars, where the price difference is likely to be higher, increased. This price difference remains far below the 2012 average of £550. It is likely that this is due to vehicles being more appropriately priced in the first instance as vendors are pleasantly surprised by the strength of prices, allowing sales to be concluded more readily.


Tony Gannon, NAMA Executive Committee Member said "During the first two weeks of March it has been evident that competition amongst buyers remained fierce for the most desirable cars.


“However NAMA members are now reporting a downturn in auction activity as the increase in supply caused by the new March plate meets the normal seasonal decline in retail activity.”


ENDS


Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.


Keely Scanlan, Press Officer

Tel: 020 7307 3410

Mob: 07825097697

Press Office direct line: 020 7307 3422

Press Office fax: 020 7307 3406


Web: www.rmif.co.uk Email: keely.scanlan@rmif.co.uk

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.

motor industry in Scotland.

  

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NAMA HIGHLIGHTS THE IMPORTANCE OF ACCURATE MILEAGE READINGS

Published 26/03/2013

The National Association of Motor Auctions (NAMA) is calling on MOT testers ensure that the MOT mileage data is correctly logged.

NAMA commented “NAMA members have reported that discrepancies with mileage records on MOT certificates can cause serious issues when selling cars through auction as customers are often deterred from bidding on a car where discrepancies exist.

“A vehicle with an accurate record is far more attractive for a buyer as it will give them peace of mind about the vehicles credentials.”


ENDS


Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.
Keely Scanlan, Press Officer
Tel: 020 7307 3410
Mob: 07825097697
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk Email: keely.scanlan@rmif.co.uk
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.
 

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NAMA REPORT MARCH 2013

Published 12/04/2013

NAMA Report March 2013.

The National Association of Motor Auctions (NAMA) published its monthly market report today for March.

The report shows that during March the average values of used cars sold at auction across the board decreased from £5,359 to £5,013, equivalent to a 6% decrease between February and March.

The decrease in average values can, in part, be attributed to the change in mix of vehicles sold with a higher volume of dealer part exchange vehicles at auction during March having a negative impact on the average price. The increase in transactional activity in the dealer part exchange sector was in line with normal seasonal changes due to the plate change experienced in March.  

When reviewing prices by age most brackets experienced a decline in values. However vehicles aged under 1.5 years old experienced an increase in values. Vehicles of this age have steadily gained in value and sales volumes over the past year. The sales volume of cars in this age bracket have increased 67% in comparison to March last year and now account for 6.6% of all cars sold.

When reviewing the fleet sector, the average price fell slightly during March but remains ahead of the values reached a year ago. Poor new car sales during 2008-2010 continue to have a knock on effect on supply in this sector thus influencing values.

Andrew Hulme, NAMA Chairman said “The fall in key market factors during March is very much typical for this time of year. The market has had to contend with an early Easter as well as higher than forecast new car registrations which have generated a significant increase in stock to the market.“

As NAMA suggested in the March report, these key factors have lead to an increase in supply, a decline in demand and a fall in values that became evident in the rundown to Easter.

“Until there is a decrease in stock and an increase in retail demand and conversion rates, values are likely to continue to fall. NAMA expects this in the April and May markets. However this is in line with normal historical patterns and is a seasonal adjustment as opposed to a real market downturn.”

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Keely Scanlan, Press Officer
Tel: 020 7307 3410
Mob: 07825097697
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk Email: keely.scanlan@rmif.co.uk
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.
motor industry in Scotland.  

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NAMA REPORT APRIL 2013

Published 13/05/2013

The National Association of Motor Auctions (NAMA) published its monthly market report today for April.

The report shows that during April the average value of used cars sold at auction across the board decreased from £5,013 to £4,862. The total volume of sales fell 6% from 96,265 units to 90,645 as a result of reduced activity following the Easter break.

Transactional activity fell back across all segments overall in April, although the volume in declines were primarily amongst the Manufacturer/Rental and Fleet segments. Average prices continued their downward trend, with the month averaging 3% below prices achieved in March. However, this decline is largely generated by a continued shift in volumes towards dealer part exchange vehicles.

Price changes April compared to March, by customer type

 

Mar-13

Apr-13

Diff %

Manufacturer/Rental

14250

13975

2%

Fleet

7975

8050

1%

Dealer PXC

2450

2425

-1%

As conversion rates have continued their slide as buyers become more discerning, so too have values. In the fleet sector, prices remain ahead of those achieved during April 2012 and, with average prices in that segment rising this month, the year-on-year difference has benefited from 8% reduction in average mileage and a 10% reduction in volume.

 

4x4 and convertible prices during the last 3 months

 

Feb 13

Mar 13

Apr 13

Premium 4x4 SUV

20800

20525

20950

4x4 Lifestyle Cars

10125

10250

10200

Prem Upper Medium Convertibles

11525

11425

11550

General Market Convertibles

5925

6200

6475

Prices for convertibles have been rising steadily although remain considerably below their position was one year ago. Prices for 4x4s have held on well, although as large petrol engine variants are not particularly sought after, the market are now opting for good examples of smaller diesel-engine models. The high conversion rates for General Market Convertibles look set to continue although there is some concern that this demand will not last as long as it has in previous years, due to unease over the summer weather forecast.

Justin Lane, NAMA Chairman comments, “Overall sales volumes fell back across April as a result of reduced activity during Easter break, however, the market now appears to have moved to its new phase, and conversion rates have settled at a level that is likely to be consistent during the coming four weeks.

“The high volume of Dealer PX product is confirmation of a much healthier new car market in 2013 and although prices are expected to soften in the coming months the market is able to accommodate the additional Dealer PX volume without signs of any distress at the moment.

“With the second bank holiday weekend looming upon us, we anticipate activity over the long weekend may have a positive effect on both conversions and prices in the auction halls in the weeks immediately following”.

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Keely Scanlan, Press Officer

Tel: 020 7307 3410
Mob: 07825097697
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk Email: keely.scanlan@rmif.co.uk
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. 

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NAMA COMMERCIAL VEHICLE REPORT – APRIL 2013

Published 14/05/2013

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for April today.

The report shows that during April the average values of used LCV’s at auction across the board rose from £4,293 to £4,497, equivalent to a 5% increase between March and April. With conversion rates staying at a high of 80% and sales volumes and mileages falling by significant amounts, the prospects for May and June seem encouragingly high.

Average No. of Days on Site – Year-on-year comparison

Nov-12

Dec-12

Jan-13

Feb-13

Mar-13

 

Apr-12

Apr-13

Year on Year Diff

12.9

12.9

14.7

12.4

10.9

 

16.3

10.7

-5.6

 

 

 

 

Average Age in Months

Nov-12

Dec-12

Jan-13

Feb-13

Mar-13

 

Apr-12

Apr-13

Year on Year Diff

60.5

59.7

64.1

63.3

64.9

 

57.6

64.9

7.3

 

 

 

 

The average number of days that LCVs remained on site was 10.7, a healthy year-on-year reduction of 5.6 days. This reduction in days on site will be of benefit to corporate vendors as it will provide a boost to cash flow as vehicles are disposed of more quickly.

Whilst the year-on-year average price was down £213 it is important to note that the LCVs sold in April 2013 were on average significantly older and had covered more miles than those sold in the same month of 2012.

In addition, despite the average age having increased by 7.3 months and average mileage rising by 5,508 miles, conversion rates were 5% higher.

Prices for first time entries compared to prices at subsequent sales

 

Sep-12

Oct-12

Nov-12

Dec-12

Jan-13

Feb-13

Mar-13

Apr-13

Price – 1st Entry

£4,590

£4,750

£4,615

£4,750

£4,390

£4,550

£4,325

£4,600

Price – 2nd or Subsequent Entry

£4,375

£4,325

£4,450

£4,325

£3,930

£4,360

£4,045

£4,480

 

 

 

 

 

 

 

 

The price difference between first time entries compared to subsequent sales has been closing in recent months. Alex Wright, Chairman of NAMA Commercial Vehicle Group, said that this is due to vehicles being more appropriately priced in the first instance as vendors are pleasantly surprised by the strength of price as bidding in halls go past the reserve.

Commenting on the market, Alex Wright said “With the April report delivering such a positive message in regards to nearly every aspect of the used LCV market it likely that few will be able to remember a time when the market for light commercial vehicles was so vibrant with demand being so well matched to supply.

“If all vendors continue to price their vehicles to the market value and allow the auctions to have ample time to pre-market their vehicles it is probable that 2013 will deliver the best returns seen for vans in many a year.”

END

Notes for editors:

Keely Scanlan, Press Officer

Tel: 020 7307 3410
Mob: 07825097697
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk Email: keely.scanlan@rmif.co.uk
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.

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NAMA REPORT MAY 2013

Published 13/06/2013

The National Association of Motor Auctions (NAMA) published its monthly market report today for May.

The report shows that during May, the average value of used cars sold at auction across the board decreased from £4,860 to £4,772. The total volume of sales strengthened by 13%, from 90,645 units to 102,860, despite two public holidays during the month.

Transactional activity increased substantially in May across all segments, although the largest increases were seen in the Manufacturer/Rental and Fleet segments. The only age bracket that saw a decline in volumes was 0.5 years or less, which was expected at this time of year due to the recent plate change.

 

Price changes May compared to April, by customer type

 

Apr-13

May-13

Diff %

Manufacturer/Rental

13975

13725

  -1.8%

Fleet

8050

8075

0.3%

Dealer PX

2425

2450

1.0%

 

The Dealer PX segment was up 1.0%, in terms of volume and average price. This was a direct result of the high volume of new car sales to the private buyer which generates plenty of part exchanges, most of which need are not of franchised retail standard and therefore need to go to auction.

 

4x4 and convertible prices during the last 3 months

 

Mar-13

Apr-13

May-13

Premium 4x4 SUV

20525

20950

19750

4x4 Lifestyle Cars

10250

10200

10075

Prem Upper Medium Convertibles

11425

11550

11375

General Market Convertibles

6200

6475

6600

 

Prices for the premier upper medium convertibles declined this month and the overall values of the convertible sector remain far below values attained in 2012. 4x4 values have not declined as much with the onset of summer as in previous years. The only logical explanation to this is the inclement weather and this is unlikely to receive a boost as most sources suggest unease over the summer weather forecast.

Justin Lane, NAMA Chairman Comments, “Overall sales volumes across the month were stronger than expected despite the double bank holidays. The fact that overall conversion rates fell during May is not that surprising, although the current level of 74% on average remains higher than it did this time last year. 

“Over the next 6 to 8 weeks, we anticipate the focus will be in both the new and used sectors on family orientated vehicles. Small cars will also remain popular, and we can expect to see a noticeable drop in demand for convertibles as the trade perceives the market will have ended.

“The finance deals on offer in the new car market will continue to have an effect on the late plate used car market. We have already seen evidence of this in recent months where deals have tempted used buyers into a new car. However, this has resulted in a negative impact on the late plate used values which have in some cases stalled.

“The poor quality of cars at auction also looks set to continue. Trade buyers will be looking to buy the poor condition cars at an advantageous price so they have the money to then properly and safely prepare these examples for sale which means vendors will also be under pressure to keep the stock moving”.

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Keely Scanlan, Press Officer
Tel: 020 7307 3410
Mob: 07825097697
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web:
www.rmif.co.uk Email: keely.scanlan@rmif.co.uk
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.

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NAMA COMMERCIAL VEHICLE REPORT – MAY 2013

Published 14/06/2013

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for May today.

The report shows that during May the average values of used LCV’s at auction across the board fell from £4,497 to £4,322, equivalent to a -4% decrease between April and May. With mileage and age also having risen over the month, it is testament to the underlying strength of the marketplace that demand held up as well as it did.

Despite volumes, age and mileage having all increased sharply over the past 12 months, conversion rates held steady at 74%, the same as this time last year. Days in stock fell and prices slipped by less than 8%.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “It is encouraging to see such a healthy demand for younger vehicles.

“The 9% rise in the year on year difference for all ages is a welcoming leap and we are delighted to see the market has really lapped it up this month and that prices are holding up well.

“With summer now upon us, the LCV marketplace is likely to slow down as the holiday season takes buyers away from the day job over the next few weeks. However, barring any unforeseen hiccups on the wider economic front that dampens demand for LCVs, it is to be hoped that autumn will deliver a strong performance across the auction scene, ensuring that 2013 closes strongly”.

 

ENDS

Notes for editors:

Keely Scanlan, Press Officer

Tel: 020 7307 3410

Mob: 07825097697

Press Office direct line: 020 7307 3422

Press Office fax: 020 7307 3406

Web: www.rmif.co.uk Email: keely.scanlan@rmif.co.uk
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.

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NAMA REPORT JUNE 2013

Published 11/07/2013

The National Association of Motor Auctions (NAMA) published its monthly market report today for June.

The report shows that during June, the average value of used cars sold at auction across the board increased from £4,772 to £4,828. The total volume of sales declined by 19%, from 102,860 units to 83,637 units, although the Manufacturer/Rental age segment fared slightly better, declining 15% to 8,717 units.

Conversion rates continued their slide during June although, at 72%, it is likely that we have reached the seasonal low point for the year. These low conversions are due in many cases to vendors being unwilling to let a vehicle sell and realise a low percentage return against the valuation guides. 

Price changes June compared to May, by customer type

 

May-13

June-13

Diff %

Manufacturer/Rental

13725

13700

  -0.2%

Fleet

8075

8050

-0.3%

Dealer PX

2450

2450

0.0%

Conversion rates and volumes fell across the board, however prices remained steady through all age segments. This is probably down to the effect that vehicle condition and associated refurbishment costs have on the buyers remit when attending sales. In addition, there appears to be a lack of variety in the market and high trim levels are selling for strong money which helps to boost the average prices achieved.

4x4 and convertible prices during the last 3 months

 

Apr-13

May-13

Jun-13

Premium 4x4 SUV

20950

19750