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NAMA Commercial Vehicle Report May 2014Back

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

The report shows that during May the average values of used LCV’s at auction across the board increased by 5.1% from £4,685 to £4,924 between April and May. Volumes saw a 9% to 8,394 units and the average ages of LCV’s sold at auction fell to 66.6 months.

The average number of days that LCVs remained on site went up from 12 to 14 days, and the average mileage fell -4% from last month to 81,867 miles.

Price Changes by age

Feb-14

Mar-14

Apr-14

May-14

<2 Years

£10,975

£12,005

£11,215

£12,395

Previous month Diff

-1.5%

9.4%

-6.6%

10.5%

2 – 4 Years

£6,580

£7,020

£7,135

£7,065

Previous month Diff

2.2%

6.7%

1.6%

-1.0%

4.1 – 6 Years

£4,405

£4,470

£4,885

£4,780

Previous month Diff

2.0%

1.5%

9.3%

-2.1%

Over 6 Years

£2,555

£2,460

£2,370

£2,465

Previous month Diff

1.8%

-3.7%

-3.7%

4.0%

 

 

 

 

 

 

 

 

 

 

 

 

The significant percentage rise in average price recorded in May was attributable to increases delivered by the newest and oldest LCV stock.

An overall monthly rise of 5.1% lifts the average price of an LCV sold at auction by 14% above where it stood a year ago.

Volume Changes by Age

Feb-14

Mar-14

Apr-14

May-14

<2 Years

557

353

375

449

Previous month Diff

14.1%

-36.6%

6.2%

19.7%

2 – 4 Years

2,668

2,949

2,539

2,433

Previous month Diff

-13.4%

10.5%

-13.9%

-4.2%

4.1 – 6 Years

2,280

2,317

2,361

2,158

Previous month Diff

-13.6%

1.6%

1.9%

-8.6%

Over 6 Years

3,078

3,579

3,945

3,354

Previous month Diff

3.4%

16.3%

10.2%

-15.0%

 

 

 

 

 

 

 

 

 

 

 

To the end of April, as registrations of new LCVs had increased by 12%, it would have been reasonable to expect that this would have generated additional used van and pick-up stock. However, in May overall sales volumes fell by 9% which, with conversion rates having now slipped by 4% over consecutive months, suggests that demand dipped over the Bank Holiday weeks.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “A sharp fall in volume and a significant reduction in age suggest the strong returns enjoyed by vendors in May could mark the high point for prices in 2014.

“With sales volumes and age having moved downwards as prices leapt forward in May, this is a pattern which is unlikely to continue over the summer. Encouragingly, some vendors have already aligned their expectations to this reality.

“Accordingly, despite the prospect of lower price levels over the next couple of months, conversion rates should hold firm which will position LCV wholesalers to take full advantage of any autumn uplift”.

 

Posted by Sue Robinson on 13/06/2014