"The auction market continues to demonstrate strength and stability, with both LCVs and cars showing encouraging signs amidst evolving consumer preferences. While certain sectors face challenges, the overall outlook remains positive." said Paul Hill spokesperson for the National Association of Motor Auctions (NAMA) following market call for March 2024.
LCV Segment:
The market exhibits resilience, with increased activity levels and a notable comfort among participants. Despite minor setbacks in some areas, overall volumes remain steady, underlining a healthy market trajectory.
Regarding electric vans, Paul Hill said, "We are observing marginal adjustments in trade prices, indicative of a cautious yet optimistic approach as we navigate evolving consumer demands."
Cars:
The automotive market maintains stability, despite minor fluctuations observed, particularly in older vehicle sales. Notably, stable EV sales and an increase in fleet supply contribute to the market's buoyancy.
"Buyers' capacity and a harmonious vendor-buyer relationship are pivotal in driving market confidence. As the industry progresses, NAMA remains committed to fostering a balanced marketplace for all stakeholders."
Hill concluded, "Robust conversion rates and renewed confidence among members signify an optimistic outlook for the industry. With demand aligning closely with supply, we look ahead with readiness and resilience."
