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NAMA Commercial Vehicle Report – June 2014Back

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

The report shows that during June the average values of used LCV’s at auction across the board decreased by -1.7% from £4,924 to £4,839 between May and June. Volumes saw a 3% rise, and the average ages of LCV’s sold at auction fell to 66.1 months.

The average number of days that LCVs remained on site went up to 14.8 days, and the average mileage increased 3% from last month to 84,316 miles.

Price Changes by age

Mar-14

Apr-14

May-14

Jun-14

<2 Years

£12,005

£11,215

£12,395

£11,685

Previous month Diff

9.4%

-6.6%

10.5%

-5.7%

2 – 4 Years

£7,020

£7,135

£7,065

£6,740

Previous month Diff

6.7%

1.6%

-1.0%

-4.6%

4.1 – 6 Years

£4,470

£4,885

£4,780

£4,715

Previous month Diff

1.5%

9.3%

-2.1%

-1.4%

Over 6 Years

£2,460

£2,370

£2,465

£2,470

Previous month Diff

-3.7%

-3.7%

4.0%

0.2%

 

 

 

 

 

 

 

 

 

 

 

 

In June, a slight decline in average price (-1.7%) was attributable to the weaker performance delivered by newer stock. Despite this decline, the average price paid for LCVs rose by 13% above where they were standing a year ago.

Volume Changes by Age

Mar-14

Apr-14

May-14

Jun-14

<2 Years

353

375

449

424

Previous month Diff

-36.6%

6.2%

19.7%

-5.6%

2 – 4 Years

2,949

2,539

2,433

2,684

Previous month Diff

10.5%

-13.9%

-4.2%

10.3%

4.1 – 6 Years

2,317

2,361

2,158

2,353

Previous month Diff

1.6%

1.9%

-8.6%

9.0%

Over 6 Years

3,579 3,945 3,354 3,255

Previous month Diff

16.3%

10.2%

-15.0%

-3.0%

 

 

 

 

 

 

 

 

 

 

 

With sales volumes rising, June continued the robust levels of demand witnessed across the wholesale marketplace over the past 18-months. However, following what are likely to be some slower months over the summer, it is hoped that September will bring equilibrium to the balance between supply and demand.

Paul Hill, NAMA Chairman Comments,” With sales volumes rising, June continued the robust levels of demand witnessed across the wholesale marketplace over the past 18-months. However, following what are likely to be some slower months over the summer, it is hoped that September will bring equilibrium to the balance between supply and demand.

“Despite closing on a low note, the first half of 2014 has marked the successful conclusion of 6 months when demand had held firm for most used LCVs, driving prices to levels that were well above expectation.

“Although the next 6 months are likely to provide our industry with a fresh set of challenges, following sluggish demand in July and August, there is little reason to be pessimistic over prospects for the remainder of the year.”

Posted by Sue Robinson on 20/07/2014