The National Association of Motor Auctions (NAMA) has published its monthly car auction data report today for June 2018.
The report shows that overall in June:
- First time conversion rates increased by 2.5% to 77.5% from May to June, and increased 2.1% on June 2017.
- Conversion rates have been higher than the previous year for the last 6 consecutive months.
- Petrol first time conversion was up 2.6% from May to June 2018.
- Diesel converted at 77.3%, up significantly by 4.8% on last year.
- Average mileage was up to 65,842 from May to June 2018.
- The first time premium was £98, up on last month’s figure of £76. Premiums for first time sales for both petrol and diesel cars were also up by £103 and £55 respectively.
- Overall average selling value was down -£292 to £5,365 from the previous month, but still broadly in line with the 2017 largely due to changes in the model and segment mix.
Louise Wallis, Head of NAMA commented, “Auction activity has been buoyant in 2018 so far. The average first time conversion rate was 2.5% higher than the previous month and 2.1% higher than June 2017. Petrol cars converted at a slightly better rate than the average at 77.9%
“The outlook continues to look positive for the coming months, and it will be interesting to see if the diesel market can continue this performance on the back of the Government’s Road to Zero strategy”
James Tomlinson Chair of NAMA adds, “Conversion rates have been extremely strong this year and month on month 2018 has consistently outperformed the last 2 years in this key selling metric.
“This cements the strength of the UK auction market, despite the challenges that could have been posed by recent sporting events and the hot summer.”
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.