The organisation’s latest Light Commercial Vehicle (LCV) market report for February shows that average values across the board decreased 3.2% from £4,907 to £4,749 between January and February. Volumes saw an 8.6% increase, and the average age of LCVs sold at auction fell to 68.6 months.
The average number of days that LCVs remained on site declined to 15 days, and the average mileage decreased from 84,617 to 82,650miles.
At £4,749, the average price paid for LCVs in February fell by £34 (-0.7%) which represented a fall of £95 (-2%) against the comparable figure recorded in 2014.
At 10,566 the total number of LCVs sold at auction in February continued to grow across all age bands. The total sales volume was 23% above the figure posted by this same month last year.
Alex Wright, chairman of NAMA Commercial Vehicle Group, commented: “The data presented in this latest NAMA LCV report suggests that there is still a healthy level of demand for most light commercial vehicles. In February, an 8.6% increase in volume led to modest price falls yet, as average age reduced slightly with mileage falling sharply a better result would have been hoped for.
“Despite February having bounced back after a patchy start to 2015, there have been several subtle changes as to what used stock is currently in demand. Scruffy, high mileage LCVs over 4-years of age took the biggest hit which was to be expected as the demand witnessed over the past 24 months for such hard-used lots was driven solely a lack of more desirable alternatives.”
He added: “With 2014 posting an LCV sales increase close to 19% with the first 2 months of 2015 delivering growth above 20%, the greatest impact on prices will be exerted by soaring van and pick-up registrations. From this point onwards its business as usual with growth in the wider economy hopefully leading to sufficient demand to keep pace with the ever-higher volumes being de-fleeted.”
