The National Association of Motor Auctions (NAMA) has published its monthly car auction data report today for January 2018.
The report shows that overall in January:
- First time conversion rates increased by 3.9% to 81.6% from December
- Average selling value decreased -2.7% from £5,693 to £5,542 from the previous month, however, was up 4.6% from last January’s figure of £5,296
- Average mileage went up by 3.0% to 65,726 from December, and was up just slightly by 0.6% on the same period last year
- The first time premium was -£231 – a significant -48.1% decline on last month’s figure of -£156
Louise Wallis, Head of NAMA commented, “Auction activity strengthened in January as dealers bought stock to fulfil increased demand from consumers, who are opting in favour of used cars instead of new.
“Whilst diesel cars are holding their own in general, the premium sector - particularly large premium German brands, have struggled to achieve prices that are in line with vendors expectations.
“This, coupled with the large volume of cars that were offered throughout the month, led to overall hammer prices being more subdued than would normally be expected in January. However, as the month progressed, prices began to strengthen.”
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.