The National Association of Motor Auctions (NAMA) has published its monthly car auction data report today for November 2017.
The report shows that overall in November:
- First time conversion rates decreased by -3.6% to 79.6% from September- however the rate was up slightly by 0.4% on the same period last year
- Average selling value decreased -3.5% from £5,759 to £5,558 from the previous month, however positively was up 3.5% from last Novembers figure of £5,370
- Average mileage went up by 0.4% to 64,339 – falling by 399 miles compared to the same period last year
- The first time premium was -£145 – a -107.1% decline on last month’s figure of -£70
Louise Wallis, Head of NAMA commented, “Auction activity declined in November which is fairly normal this time of year.
“The number of vehicles being offered for sale remained relatively high, but with some vendors appearing reluctant to reduce their reserves to reflect the more challenging market. This resulted in volumes and conversion rates declining during the month.
“We anticipate the market to pick up in January as dealers look to restock forecourts for the New Year.”
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.