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The report shows that the average sales price in November increased by 3.6% from October 2015 to £5,637 from £5,441.
Sales volumes for November declined by -11.8% in comparison to last month. In terms of a year on year comparison, vehicle auction sales rose by 14.9% from 88,288 in November 2014 to 101,453 in November 2015.
The percentage of vehicles sold first time in November fell from 80% in October to 77%, a fall 3%. In comparison to November 2014 the first time conversion rate increased by 1% from 76%.
The price premium for vehicles sold first time fell from £250 to £175, and the average days on site increased to 8.4 from 7.4 days.
Sale Price by Age Profile in November 2015 compared to November 2014
|Late & Low||£15,075||£14,125||-6.2%|
Three 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 -6.2% which has continued the trend from October. Once again there has been a significant number of budget vehicles sold during the month, which perpetuates the 2015 trend, with prices holding well.
Paul Hill, NAMA Chairman comments, “At the wholesale level, first time conversion rose in four of the five market sectors compared to November 2014. The exception was the late and low sector of the market which fell to 72.7% from 75% in 2014.
“In addition to the fleet volume, dealers have continued to clear out the overage stock and unwanted part exchange vehicles that have come into stock as a result of new vehicle sales during October and November. This position will remain a difficulty during December.
“The temporary lull in new car activity in October has not stopped the manufacturer’s enthusiasm to register vehicles to achieve their stretch targets during that final push in 2015. Values for December are under pressure with increased volumes of stock and reduced demand. It is anticipated that most vendors will not be holding stock over the year end in anticipation of higher values in the New Year.
“2016 will certainly bring with it more vehicle returns for the first quarter and a continued fight by the manufacturers for increased volumes in the new car market”.