The National Association of Motor Auctions (NAMA) published its monthly market report today for November
The report shows that during November the average month-on-month value of used cars sold at auction across the board increased nine per cent from £5,263 to £5,736. This is also six per cent higher than November 2013, and could indicate that there is more demand for late plate cars in the market.
Sales volumes for November 2014 were down by a significant 14% in comparison to the previous month – although a more reasonable seven per cent against November 2013. This reflects a marked slowdown in the market perhaps more pronounced than many expected.
The number of cars sold first time during November 2014 has dropped to 76% from 80% in October which continues the downward trend of the past three months. At 76% this figure is three per cent lower than the 79% recorded during November 2013.
The price premium for vehicles sold first time round continued to drop in November 2014 moving down a further £50 to £175 from the £250 achieved in October 2014 and represents a three per cent premium. This is also £25 less than November 2013. The average days on site increased to 9.1 days.
Sales Volumes by profile in November 2014 compared to October 2014
Oct-14 Nov-14 Diff %
Late & Low 9,063 10,278 13.4%
Fleet 22,493 21,122 -6.1%
PX (Young) 13,360 11,199 -16.2%
PX (Old) 33,325 28,105 -20.4%
Budget 22,466 17,584 -21.7%
