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Trade Buyer Interest is Strong as the 65 Plate ApproachesBack

NamaThe increasing volumes of stock entering the remarketing cycle and the impact upon residual values should not over shadow an impressive level of growth in car sales activity across the UK auction network. This is the view from NAMA reflecting on its latest sales activity data, which provides compelling encouragement for the entire industry as we move into the peak trading period of the year.

The latest comparisons of car sales activity from amongst NAMA’s members reveal that July sales volumes rose 12.2% year on year and conversion levels rose to 80% from 73% in the preceding month.

These impressive figures reflect strong levels of trade buyer activity, notably amongst the smaller and medium sized franchised and independent dealers. “Many of the larger groups are fulfilling their used vehicle stocking needs through their own stock remarketing and part-exchange activities. This underlines the strength of demand in the market place right now,” notes Louise Wallis at NAMA.

While new car volumes have benefitted from increasing levels of fleet activity, the used car sector is dominated by the private buyer. The success of PCPs has clearly seen some traditional used car buyers convert to a new car, which makes the levels of demand being seen in market even more encouraging. Rising confidence by consumers in their personal finances us clearly a major factor. The latest GfK Confidence Index (July 31st) saw finance confidence increase by 15 points and the forecast is for this to keep improving. It is a position supported by rising demand for unsecured loans and dealer finance reported by both the FLA and BBA.

“Confidence, especially in financial matters is central to car sales. After a long extended period of financial austerity consumers and dealers are re-discovering a level of access to funding and the confidence to use it. As a result dealers are both stocking and selling more cars,” concludes Wallis.

Posted by Sue Robinson on 28/08/2015