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NAMA LCV Report: September 2014Back

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

The report shows that during September the average values of used LCV’s at auction across the board increased by 0.8% from £4,645 to £4,967 between August and September. Volumes saw a -3.2% decline, and the average age of LCV’s sold at auction rose to 65.4 months.

The average number of days that LCVs remained on site went down to 12.9 days, and the average mileage increased from 81,521 to 82,147 miles.

Price Changes by age

Jun-14

Jul-14

Aug-14

Sep-14

<2 Years

£11,685

£10,985

£10,420

£11,050

Previous month Diff

-5.7%

-6.0%

-5.1%

6.0%

2 – 4 Years

£6,740

£6,550

£6,330

£6,620

Previous month Diff

-4.6%

-2.8%

-3.4%

4.6%

4.1 – 6 Years

£4,715

£4,585

£4,740

£4,640

Previous month Diff

-1.4%

-2.8%

3.4%

-2.1%

Over 6 Years

£2,470

£2,485

£2,415

£2,440

Previous month

Diff

0.2%

0.6%

-2.8%

1.0%

 

 

 

 

 

 

 

 

 

 

 

 

The average price paid for an LCV in September stood at £4,967 which represents an uplift of more than 14% over the same month last year.

Volume Changes by Age

Jun-14

Jul-14

Aug-14

Sep-14

<2 Years

424

614

504

431

Previous month Diff

-5.6%

44.8%

-17.9%

-14.5%

2 – 4 Years

2,684

2,921

3,017

2,927

Previous month Diff

10.3%

8.8%

3.3%

-3.0%

4.1 – 6 Years

2,353

2,459

2,105

1,933

Previous month Diff

9.0%

4.5%

-14.4%

-8.2%

Over 6 Years

3,255

3,051

2,630

2,700

Previous month Diff

-3.0%

-6.3%

-13.8%

2.7%

 

 

 

 

 

 

 

 

 

 

 

 

The total number of LCVs sold at auction in September decreased by 265 units and now stands just 0.78% above the comparable figure for this same month in 2013.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “With increases in both average age and mileage doing little to hinder LCV prices moving higher, the figures in September make for impressive reading. There were welcome falls in both the number of days an LCV remained on site and entries taken to achieve a sale. Notably, a 4% improvement in the number of lots selling at the first time of asking underscored the benefits to be gained when reserve prices are set at realistic levels.

“Within this robust marketplace, there is undoubtedly a high level of demand for most types of LCVs which bodes well for the closing months of 2014. However, with manufacturers continuing to offer big discounts on new vans and pick-ups, trade buyers are wary of holding too much expensive, late year stock.

“Provided that the UK’s economy continues to avoid the worst of the financial turmoil being experienced across the channel, demand for both new and used LCVs is expected to hold firm into 2015.”

Posted by Sue Robinson on 17/10/2014