Other findings include that volumes saw a 3.8% rise, and the average ages of LCV’s sold at auction fell to 63.9 months. NAMA found that the average number of days that LCVs remained on site went down to 14.3 days, and the average mileage decreased -3.5% from last month to 81,393 miles.
Commenting on the findings, Alex Wright, chairman of NAMA Commercial Vehicle Group, said: ‘Despite predictions that with increased volume prices would decrease, we are seeing the opposite happening. July saw volumes up by 20% and prices up by 19%. The economy is growing and this is reflected in the commercial market.
‘The 8 year and over market has dominated the sector for a long time starving buyers of younger stock, but the yellow line is finally shrinking and later plate vehicles are slowly appearing. We predict this trend will continue and 4-5 year old vehicles will take over as more enter the market.
‘Once again the market data presented in this NAMA report illustrates the underlying strength of demand for LCVs at all years and clearly bodes well for sales prospects over the coming months.’
Price Changes by age
|
|
Apr-14 |
May-14 |
Jun-14 |
Jul-14 |
|
< 2 Years |
£11,215 |
£12,395 |
£11,685 |
£10,985 |
|
Previous month Diff |
-6.6% |
10.5% |
-5.7% |
-6.0% |
|
2 -4 Years |
£7,135 |
£7,065 |
£6,740 |
£6,550 |
|
Previous month Diff |
1.6% |
-1.0% |
-4.6% |
-2.8% |
|
4 – 6 Years |
£4,885 |
£4,780 |
£4,715 |
£4,585 |
|
Previous month Diff |
9.3% |
-2.1% |
-1.4% |
-2.8% |
|
Over 6 Years |
£2,370 |
£2,465 |
£2,470 |
£2,485 |
|
Previous month Diff |
-3.7% |
4.0% |
0.2% |
0.6% |
Volume Changes by Age
|
|
Apr-14 |
May-14 |
Jun-14 |
Jul-14 |
|
< 2 Years |
375 |
449 |
424 |
614 |
|
Previous month Diff |
6.2% |
19.7% |
-5.6% |
44.8% |
|
2-4 Years |
2,539 |
2,433 |
2,684 |
2,921 |
|
Previous month Diff |
-13.9% |
-4.2% |
10.3% |
8.8% |
| 4 – 6 Years |
2,361 |
2,158 |
2,353 |
2,459 |
|
Previous month Diff |
1.9% |
-8.6% |
9.0% |
4.5% |
|
Over 6 Years |
3,945 |
3,354 |
3,255 |
3,051 |
|
Previous month Diff |
10.2% |
-15.0% |
-3.0% |
-6.3% |