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NAMA REPORT SEPTEMBER 2013Back

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

The report shows that during September, the average value of used cars sold at auction across the board increased 4.5% from £4,899 to £5,118. The total volume of sales rose 6.3% from 92,255 units to 98,000 units, driven by last month’s plate change.

Transactional activity increased in September across all but the budget age profiles, although this is a consequence of especially high growth in this age profile during August. Overall, transaction volumes were up over 24% compared to September 2012, the only exception was for 3.6 – 4.5 year old examples. This was due to the relative shortage of 2009 and 2010 plated vehicles in the auctions.

Price changes September compared to August, by customer type

Aug-13 Sep-13 Diff %
Late & Low £14,350 £13,950 -3%
Fleet £8,100 £8,250 2%
PX (Young) £4,750 £4,775 1%
PX (Old) £2,125 £2,225 5%
Budget £675 £725 7%

 

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

 

Late & Low was the only age profile to see a drop in average price, although this can be partially explained by an increase in average mileage, as well as a substantial increase in volumes sold. The sector has also seen a high level of vehicles being discounted, prompted by the manufacturers need to sell new cars.

4×4 and convertible prices during the last 3 months

Jul-13 Aug-13 Sep-13
Premium 4×4 SUV

19050

19400

21000

4×4 Lifestyle Cars

9700

9700

10225

Prem Upper Medium Convertibles

11300

11400

11325

General Market Convertibles

6875

6300

6475

There was a significant rise in value for premium SUVs and Lifestyle 4x4s and following last year’s winter, it is likely that dealers are preparing themselves for this to happen again this year. By contrast, prices for convertibles have fallen from their seasonal highs and appear to be continuing a steady decline in value.

Paul Hill, Manheim Regional Director Comments, “The sustained retail demand bought good news for auction and trade activity, ensuring that there was a route to market for the increased supply of used cars that is normal for this time of year. As expected, contract hire and leasing de-fleet activity was in full flow once again following the summer season.

“It is surprising to see a jump in premium 4×4 values which have already remained strong through 2013. It is likely this is due to dealers actively buying stock ahead of the winter.

 

“Retail activity remained strong and dealers will have been surprised at the level of activity in the used car market. We hope to see this demand continue through to early November, however the change in weather could have a negative impact on this.”

Posted by Leana Kell on 16/10/2013