NAMA Commercial Vehicle Report – March 2015
The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for March today.
The report shows that the average value of used LCV’s at auction across the board decreased -2.7% from £4,479 to £4.623 between February and March. Volumes saw a 7.2% increase, and the average age of LCV’s sold at auction rose to 70.1 months.
The average number of days that LCVs remained on site declined to 14.9 days, and the average mileage decreased from 82,650 to 82,232 miles.
Price changes by age
At £4,623, the average price paid for LCVs in March fell by £126 (-2.7%) which is a fall of £171 (-3.6%) over the past 12 months.
At 11,329, with the exception of nearly new LCVs, the total number of LCVs sold at auction increased within each age band. The total volume of LCVs selling at auction in March was an impressive 23% higher than recorded for this same month in 2014.
Alex Wright, chairman of NAMA Commercial Vehicle Group, said: “The wholesale market’s performance as represented in the March NAMA LCV report continues to deliver an upbeat message with demand holding firm despite sizeable increases in both overall sales volume and average age.
“The 7.2% volume increase over February 2015 was expected following the new registrations entering the used LCV market. Even more significantly we are pleased to see that the year-on-year growth has reached 23% – one of the largest increases seen. This did however lead to a -9.3 year-on-year decrease in conversation rates.
“It is also interesting to see that LCV’s over 6 years recorded the largest number of sales following a downward trend. We are hopeful that the outlook for the summer months looks promising.”