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NAMA Commercial Vehicle report – November 2013Back

NamaThe National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for November today.

The report shows that during November the average values of used LCV’s at auction across the board declined by -3.6% from £4,681 to £4.512 between October and November. Total sales volumes saw a fall of -12.6% with a total of 7,963 units being sold.

After the strength seen in October, it was to be expected that November’s figures would struggle to impress. With average age and mileage having risen, it doesn’t come as much of a surprise that prices declined. Over the past year, sales volume grew by 20%, average mileage and age for LCVs increased by 3,116 miles and 3.8 months respectively. Yet encouragingly, both the number of entries required to sell each LCV lot and days on site were slightly lower, whilst conversion rates and prices improved by 3% & 7%.

Price Changes by age

Aug-13

Sep-13

Oct-13

Nov-13

<2 Years

£10,205

£11,185

£11,820

£11,175

Previous month Diff

3.8%

9.6%

5.7%

-5.5%

2 – 4 Years

£6,170

£6,345

£6,700

£6,830

Previous month Diff

1.8%

2.8%

5.6%

1.9%

4.1 – 6 Years

£3,965

£4,080

£4,265

£4,250

Previous month Diff

1.3%

2.9%

4.5%

-0.4%

Over 6 Years

£1,895

£2,190

£2,420

£2,370

Previous month Diff

2.6%

15.6%

10.5%

-2.1%

 

 

 

 

 

 

 

 

 

 

 

 

The price falls recorded in November correlate closely with the pattern of mileage increase recorded across the various age bands, making them less attractive to trade buyers looking for desirable stock.

Volume Changes by Age

Aug-13

Sep-13

Oct-13

Nov-13

<2 Years

404

334

504

367

Previous month Diff

1.5%

17.3%

52.1%

-27.8%

2 – 4 Years

2,064

2,138

2,452

2,003

Previous month Diff

12.8%

3.6%

14.7%

-18.3%

4.1 – 6 Years

2,687

2,759

2,884

2,609

Previous month Diff

2.5%

2.7%

4.5%

-9.5%

Over 6 Years

2,661

2,698

3,266

2,984

Previous month Diff

0.8%

1.4%

21.1%

-8.6%

 

 

 

 

 

 

 

 

 

 

 

Following on from October’s spike in sales volumes, a fall in November of 12.6% signalled a return to trend.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “In last month’s NAMA report, the strength of the marketplace for LCVs had hit a high point with the general sentiment being that things were as about as good as they were going to get. Therefore, the figures this month were likely to disappoint anyone who had expected each consecutive month of 2013 to be stronger than the last.

“This clearly highlights the need for vendors to avoid becoming complacent in regards to how they present their LCV stock to prospective buyers and the necessity for them to hold realistic price expectations.

“It is unlikely that there will be any marked uplift in the wholesale marketplace for LCVs until the New Year has found its stride, yet at that point there is every prospect that a series of strong months can be delivered. With the UK’s economy performing better than had been predicted, it is likely that 2014 will be another profitable year for our industry”.

 

 

Posted by Leana Kell on 22/12/2013