The National Association of Motor Auctions (NAMA) has published its monthly car auction data report today for February 2018.
The report shows that overall in February:
- First time conversion rates increased by 3.7% to 85.3% from January
- Average selling value increased 6.2% from £5,542 to £5,884 from the previous month, and was up a massive 16.7% from last February’s figure of £5,041
- Average mileage was down by -1.7% to 64,611 from January, and was down by -3.3% on the same period last year
- The first time premium was -£43 – a significant -81.4% decline on last month’s figure of -£231
Louise Wallis, Head of NAMA commented, “Auction activity remained buoyant in in February, indicating that retail activity is still strong.
“In general, feedback received within the market revealed some frustration among buyers as stock levels made it more difficult to buy the desired level of stock.
“However, it will come as welcome news that more stock is expected to hit the wholesale channels as a result of the March plate-change, but buyers should be aware that as seen in previous years, it can take until the third week of the month before this stock hits significant volumes.”
Notes for editors: The full NAMA Car Auction report is available from the RMI press office on request.
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.