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The report shows that the average sale price in August increased by £230 on the July 2015 figure from £5,358 to £5,588. This is also the case on the year on year value with August 2015 increasing by 1.4% on the August 2014 average selling price of £5,512.
Sales volumes for August were down by -12.2%% in comparison to the July 2015 figure in line with seasonal norms prior to the September plate change. Year on year comparison of vehicle auction sales were also down by -2.2% from 101,944 in August 2014 to 99,680 in August 2015 – selling 2264 fewer vehicles.
The percentage of vehicles sold first time in August increased from 80% to 84% in August 2015. In comparison to this time last year, this was also up by 4% from 80% in August 2014.
The price premium for vehicles sold first time remained static £350, and the average days on site increased to 8.2 days.
Sale Price by Age Profile in August 2015 compared to August 2014
|Late & Low||£14,900||£14,800||-0.7%|
The average sale price in all the segments other than Late and Low increased, compared to the equivalent period 2014. Compared to July 2015, the average sale price also increased in all segments except the fleet profile, which remained static at £8800.
There were a significant number of budget vehicles sold at auction in August that masks some of the value achieved in other segments during the month.
Paul Hill, NAMA Chairman comments, “As the September plate change is upon us, we expect that there will be significant increases in the wholesale volumes starting to enter the market and this will build through the month of September. It is also forecast that leasing vendors will have increasing numbers of returns through September and into October.
“Given the slowdown in the Chinese auto market, manufacturers will again potentially be looking for a home for the vehicles expected to be registered in Asia and the UK will be one market that will see incentives to consume some of that supply. This in mind, and with most manufacturers chasing registrations and market share, we will see price realignment in the final quarter of 2015 as values continue to move downwards in line with supply and demand.
“The larger franchised dealers are focused on stock turn, to sell the ever increasing numbers of pre-registrations, part exchanges and PCP returns and the general smaller dealers continue to be under margin pressure. As such vendor remarketing partners need to continue to be close to their vendors and advise of changing market conditions as they develop.”