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The report shows that during December the average values of used LCV’s at auction across the board increased by 5.4% from £4,512 to £4.757 between November and December. However, total sales volumes saw a sharp fall of -51.2% with a total of 3,885 units being sold.
Auctions across the country delivered a sound performance in December bringing 2013 to a close on a high note. The average price paid for LCVs and conversion rates both reached a high point for the year whilst sales volumes and the number of entries required to sell each lot fell to their lowest points.
The number of days that LCVs remained on site fell to 11.3 and conversation rates improved by 3% standing at 79%.
Price Changes by age
|Previous month Diff||9.6%||5.7%||-5.5%||0.9%|
|2 – 4 Years||£6,345||£6,700||£6,830||£6,590|
|Previous month Diff||2.8%||5.6%||1.9%||-3.5%|
|4.1 – 6 Years||£4,080||£4,265||£4,250||£4,425|
|Previous month Diff||2.9%||4.5%||-0.4%||4.1%|
|Over 6 Years||£2,190||£2,420||£2,370||£2,520|
|Previous month Diff||15.6%||10.5%||-2.1%||6.3%|
2013 closed strongly with the prices being achieved for LCVs having mostly increased with an overall improvement of 5.4%. Disappointingly, the exception to this being a 3.5% fall recorded at 2-4 years. However, as the average mileage for LCVs in this age band grew over the month by a similar percentage, this probably goes some way to explaining the decline.
Volume Changes by Age
|Previous month Diff||17.3%||52.1%||-27.8%||-45.5%|
|2 – 4 Years||2,138||2,452||2,003||1,136|
|Previous month Diff||3.6%||14.7%||-18.3%||-43.3%|
|4.1 – 6 Years||2,759||2,884||2,609||1,215|
|Previous month Diff||2.7%||4.5%||-9.5%||-53.4%|
|Over 6 Years||2,698||3,266||2,984||1,334|
|Previous month Diff||1.4%
Across all age bands in December, the falls in volume were of similar magnitude and point toward LCV supply being restricted for some months to come.
Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “The LCV sector continues to be a marketplace where the outcome is being dictated by the balance between supply and demand
“Accordingly, with supply looking likely to be limited over the first 6 months of 2014, the prospects for the overall sales performance remain positive although the total revenue generated will be constricted due to volumes being below what could be absorbed.
“In the final NAMA Report for 2013, the data collected from across the auction industry highlighted the strength of demand for LCVs that ensured the year closed on a high note.
“Together with reports of a strong start to the new year, this all points toward a profitable 12-months being there for the taking provided that best-practice is followed”.