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NAMA Commercial Vehicle Report – February 2015Back

CVehicles

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for February this week.

The report shows that the average value of used LCV’s at auction across the board decreased from £4,907 to £4.749 between January and February. Volumes saw an 8.6% increase, and the average age of LCV’s sold at auction fell to 68.6 months.

The average number of days that LCVs remained on site declined to 15 days, and the average mileage decreased from 84,617 to 82,650miles.

Price Changes by age

Nov-14

Dec-14

Jan-15

Feb-15

<2 Years  

£10,650

 

£10,245

 

£11,475

 

£11,410

Previous month Diff  

-15.5%

 

-3.8%

 

12.0%

 

-0.6%

2 – 4 Years  

£6,745

 

£7,155

 

£6,605

 

£6,530

Previous month Diff  

-3.6%

 

6.1%

 

-7.7%

 

-1.1%

4.1 – 6 Years  

£4,995

 

£4,805

 

£4,750

 

£4,615

Previous month Diff  

1.3%

 

-3.8%

 

-1.1%

 

-2.8%

Over 6 Years  

£2,615

 

£2,510

 

£2,365

 

£2,275

Previous month

Diff

 

1.2%

 

-4.0%

 

-5.8%

 

-3.8%

At £4,749, the average price paid for LCVs in February fell by £34 (-0.7%) which represented a fall of £95 (-2%) against the comparable figure recorded in 2014.

Volume Changes by Age

Nov-14

Dec-14

Jan-15

Feb-15

<2 Years  

389

 

281

 

478

 

684

Previous month Diff  

-26.7%

 

-27.8%

 

70.1%

 

43.1%

2 – 4 Years  

2,245

 

1,445

 

3,158

 

3,236

Previous month Diff  

-9.6%

 

-35.6%

 

118.5%

 

2.5%

4.1 – 6 Years  

1,826

 

1,260

 

2,422

 

2,613

Previous month Diff  

-16.5%

 

-31.0%

 

92.2%

 

7.9%

Over 6 Years  

2,717

 

1,576

 

3,672

 

4,033

Previous month Diff  

-11.3%

 

 

-42.0%

 

 

133.0%

 

 

9.8%

 

At 10,566 the total number of LCVs sold at auction in February continued to grow across all age bands. The total sales volume was an impressive 23% above the figure posted by this same month last year.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “The data presented in this latest NAMA LCV report suggests that there is still a healthy level of demand for most light commercial vehicles. In February, an 8.6% increase in volume led to modest price falls yet, as average age reduced slightly with mileage falling sharply a better result would have been hoped for.

“Despite February having bounced back after a patchy start to 2015, there have been several subtle changes as to what used stock is currently in demand. Scruffy, high mileage LCVs over 4-years of age took the biggest hit which was to be expected as the demand witnessed over the past 24 months for such hard-used lots was driven solely a lack of more desirable alternatives.

“With 2014 posting an LCV sales increase close to 19% with the first 2 months of 2015 delivering growth above 20%, the greatest impact on prices will be exerted by soaring van and pick-up registrations. From this point onwards its business as usual with growth in the wider economy hopefully leading to sufficient demand to keep pace with the ever-higher volumes being de-fleeted.”

 

Posted by Sue Robinson on 20/03/2015