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The report shows that the average sales price in December decreased by -1.8% from £5,637 in November 2015 to £5,534. Compared to December 2014 there was also a fall of 2.4% from £5,670.
Sales volumes for December fell by 30.9% in comparison to November 2015. Year-on-year vehicle auction sales have risen by 26.0%, from 55,625 in December 2014 to 70,063 in December 2015.
The percentage of vehicles sold first time in December remained static in comparison to November at 77%. In comparison to December 2014 however, the first-time conversion rate increased by 4% points from 73%.
The price premium for vehicles sold first time increased from £200 to £225, and the average days on site increased to 8.8 from 8.4 days.
Sale Price by Age Profile in December 2015 compared to December 2014
|Late & Low||£15,825||£13,700||-13.4%|
Two out of five market sectors saw a marginal sales price growth on the equivalent month in 2014 with the budget sector remaining static. Late and Low fell by 13.3% continuing the downward trend. The number of budget vehicles sold in auction shows no sign of reducing and represented 32.7% of all cars sold in December compared to 29.8% in December 2014.
Paul Hill, NAMA Chairman comments, “At the wholesale level, first-time conversion in December 2015 rose again in four of the five market sectors compared to November 2015 despite a 26% growth in sold units compared to December 2014.
“The only sector registering a fall in first-time conversion was Late and Low, dropping by 0.8% from 72.7% to 71.9%. As with other months an increasing new car market has brought with it a significant uplift in the number of used vehicles returning to the wholesale market, many of which were sold in December to eager buyers. As forecast in previous reports, fleet vendors have seen their numbers returning increase, with sales volumes up 33.4% in December 2015. Notwithstanding the holiday period, it has been a very successful month for the auction houses.
“Despite a large amount of volume being sold in December, January has seen significant numbers of vehicles available from the first sale on 4 January. Fleet returns continue to arrive on sites in good numbers, combined with part exchange and overage stock which will ensure healthy choice for buyers at a point in the year where demand is likely to be very strong.
“Values for January 2016 are not forecast to be higher than January 2015 and are more likely to fall slightly compared to the equivalent period last year. Unseasonal weather and the feel good factor have kept the footfall high for most marques in the showrooms in December. Higher stock levels at auction combined with manufacturer ‘fast start’ campaigns in the retail sector may impact prices throughout the month and through the first quarter of 2016.”
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