LCV values up 0.8% in September, reports NAMA

The increase represents an uplift of more than 14% over the same month last year.

The increase came as volumes fell by 3.2% and the average age of LCVs sold at auction rose to 65.4 months.

The average number of days that LCVs remained on site went down to 12.9 days, and the average mileage increased from 81,521 to 82,147 miles.

The total number of LCVs sold at auction in September decreased by 265 units and now stands just 0.78% above the comparable figure for this same month in 2013.

Alex Wright, chairman of NAMA Commercial Vehicle Group, commented, ‘With increases in both average age and mileage doing little to hinder LCV prices moving higher, the figures in September make for impressive reading. There were welcome falls in both the number of days an LCV remained on site and entries taken to achieve a sale. Notably, a 4% improvement in the number of lots selling at the first time of asking underscored the benefits to be gained when reserve prices are set at realistic levels.

‘Within this robust marketplace, there is undoubtedly a high level of demand for most types of LCVs which bodes well for the closing months of 2014. However, with manufacturers continuing to offer big discounts on new vans and pick-ups, trade buyers are wary of holding too much expensive, late year stock.

‘Provided that the UK’s economy continues to avoid the worst of the financial turmoil being experienced across the channel, demand for both new and used LCVs is expected to hold firm into 2015.’ 

Price Changes by age:

Volume Changes by Age: