Other findings include that over the past 12 months average age and mileage increased by 8.3 months and 4,361 miles respectively. According to NAMA, this more than accounts for a fall of £237 in the price of the average LCV lot.
Conversion rates showed modest improvements, days on site were reduced and the average number of entries needed to achieve a sale held firm.
Price Changes
|
|
Jan-13 |
% Diff |
Feb-13 |
% Diff |
Mar-13 |
% Diff |
Apr-13 |
% Diff |
May-13 |
% Diff |
Jun-13 |
% Diff |
Jul-13 |
% Diff |
|
<2 Years |
£10,620 |
-5% |
£9,385 |
-12% |
£10,595 |
13% |
£10,735 |
1% |
£10,305 |
-4% |
£9,990 |
-3% |
£10,775 |
8% |
|
2 – 4 Years |
£6,035 |
-4% |
£6,365 |
5% |
£6,310 |
-1% |
£6,780 |
7% |
£6,480 |
-4% |
£6,315 |
-3% |
£6,200 |
-2% |
|
4.1 – 6 Years |
£3,955 |
-7.5% |
£3,985 |
1% |
£3,970 |
0% |
£4,285 |
8% |
£4,075 |
-4.9% |
£3,925 |
-4% |
£3,840 |
-2% |
|
Over 6 Years |
£1,975 |
-23% |
£2,075 |
5% |
£1,970 |
-5% |
£2,345 |
19% |
£2,145 |
-9% |
£2,070 |
-3% |
£1,945 |
-6% |
NAMA figures show that the sales pattern set in June continued throughout July with prices at most years easing. However, strong demand for the limited number of nearly new LCVs on offer resulted in a strong uplift in the returns they generated at auction.
Volume Changes by Age
|
|
Jan-13 |
% Diff |
Feb-13 |
% Diff |
Mar-13 |
% Diff |
Apr-13 |
% Diff |
May-13 |
% Diff |
Jun-13 |
% Diff |
Jul-13 |
% Diff |
|
<2 Years |
365 |
137% |
431 |
18% |
198 |
-54% |
316 |
60% |
323 |
2% |
346 |
7% |
335 |
-3% |
|
2 – 4 Years |
1,685 |
59% |
1,625 |
-4% |
2,058 |
27% |
1,502 |
-27% |
2,083 |
39% |
1,706 |
-18% |
1,538 |
-10% |
|
4.1 – 6 Years |
2,208 |
44% |
2,596 |
18% |
2,497 |
-4% |
2,140 |
-14% |
2,671 |
25% |
2,104 |
-21% |
2,097 |
-0.3% |
|
Over 6 Years |
1,880 |
134% |
1,871 |
-0.5% |
1,972 |
5% |
2,295 |
16% |
2,645 |
15% |
2,099 |
-21% |
2,037 |
-3% |
|
Total |
6,138 |
73% |
6,523 |
6% |
6,725 |
3% |
6,253 |
-7% |
7,722 |
23% |
6,255 |
-19% |
6,007 |
-4% |
In the month of July, the volume of LCVs on offer reduced across all ages. According to NAMA, this bodes well for market prospects as we move towards September.
Alex Wright, chairman of NAMA Commercial Vehicle Group, commented: 'The market performance reflected in this month’s LCV report was in line with our expectations, and sets out the path for the first weeks of August when activity across wholesale channels is likely to be unpredictable. However, the indications are that with demand across several sectors still exceeding supply, price levels should remain stable.
'Over what are the traditionally slow weeks of summer, it should not have come as too much of a surprise to see that LCV prices fell by 2% in July. Comparing this performance to the same month a year ago throws up some hard facts that highlight why, despite healthy demand for almost all clean LCVs, price levels were expected to slip.
'In August, sales of new LCVs offer little hope that plenty of desirable late year lots will appear, therefore the most attractive used stock will remain in extremely short supply. Accordingly, it continues to be necessary for older vans with higher mileage to be remarketed to their full potential if any shortfall in overall returns is to be plugged. Vendors will be well positioned to take advantage of what promises to be a healthy level of demand for all clean stock over the autumn months, which will hopefully bolster prices and lead to a profitable close to the year.'