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NAMA Report October 2013Back

NamaThe National Association of Motor Auctions (NAMA) published its monthly market report today for October.

The report shows that during October, the average value of used cars sold at auction across the board increased 1.6% from £5,118 to £5,199. The total volume of sales rose 9.8% from 98,000 units to 107,678 units.

Total transactional activity increased in October across most of the trade market. Younger to “middle-aged” vehicles (1.6 to 3.5 years and 4.6 to 5.5 years) fell in sales volumes. However, when compared to the average volumes sold per-category, per-month over the last year, the signs are that September gave exceptional results which were driven by the plate change, and October was settling back to normality.

Price changes October compared to September, by customer type

Sep-13 Oct-13 Diff %
Late & Low £13,950 £15,050 8%
Fleet £8,250 £8,625 5%
PX (Young) £4,775 £5.375 13%
PX (Old) £2,225 £2,525 13%
Budget £725 £800 10%


NOTES: Late & Low are cars from: 0 – 2.5 Years

Fleet are cars from: 2.6 – 4.5 Years PX (young) are cars from: 4.6 – 6.5 Years

PX (Old) are cars from: 6.6 – 10.5 Years Budget: >10.5 Years


Across all categories in October, stock has had lower average mileage and age when compared to the previous month. This has helped augment the strong retail demand for used cars currently being experienced. Hence, all age profiles grew in average price for October with the biggest rise (+13%) seen in the ‘PX profile’ category.

Small changes in price amongst the segments appear to be correlated with changes in average age and mileage by segment. Late & Low is particularly sensitive to age as one might expect, whilst Budget vehicles display more price sensitivity in relation to mileage.

4×4 and convertible prices during the last 3 months

Aug-13 Sep-13 Oct-13
Premium 4×4 SUV




4×4 Lifestyle Cars




Prem Upper Medium Convertibles




General Market Convertibles




October shows that premium SUVs and Lifestyle 4x4s are continuing their climb in price. As the winter season is approaching, it is increasingly likely that dealers are positioning themselves for the seasonal increase in popularity of such vehicles. By contrast, prices for convertibles have continued to fall and the fact that volumes have remained stable.

Justin Lane, NAMA Chairman Comments, “The early part of the month saw retail demand remain particularly strong across the board to the delight of franchised and non franchised dealers alike. However, demand is likely to tail off during the last week of the month with the early part of December remaining quiet before the market picks up once again towards the end of 2013.

“We anticipate that the drop in conversion rates could also be a short lived trend as vendors look to reduce the volume of sale entries and slow defleet activity to avoid any drop in value that may result from over supply. This will probably be apparent until the latter part of December.

“There has been no significant improvement in variety or indeed quality of stock. Equally demand, and therefore values, for desirable models or low mileage examples of more prevalent models remain high and these market trends look set to prevail for the foreseeable future”.


Posted by Leana Kell on 17/11/2013