Other findings included that volumes increased by +0.2% to 9,220 units, and the average ages of LCVs sold at auction fell to 68.4 months.
The average number of days that LCVs remained on site fell to 12 and the average mileage was 85,297 miles.
Price Changes by age
|
|
Jan-14 |
Feb-14 |
Mar-14 |
Apr-14 |
|
< 2 Years |
£11,145 |
£10,975 |
£12,005 |
£11,215 |
|
Previous month Diff |
-1.1% |
-1.5% |
9.4% |
-6.6% |
|
2-4 Years |
£6,440 |
£6,580 |
£7,020 |
£7,135 |
|
Previous month Diff |
-2.3% |
2.2% |
6.7% |
1.6% |
| 6 years |
£4,320 |
£4,405 |
£4,470 |
£4,885 |
|
Previous month Diff |
-2.4% |
2.0% |
1.5% |
9.3% |
|
Over 6 Years |
£2,510 |
£2,555 |
£2,460 |
£2,370 |
|
Previous month Diff |
-0.4% |
1.8% |
-3.7% |
-3.7% |
NAFA believes the significant percentage fall in average price recorded in April can largely be attributed to a comparable percentage increase in average mileage. However, despite this slippage, price levels were almost 5% higher than at the same point in 2013.
With most LCVs selling at first time of asking (78%) it is worth noting that on average they achieved a price premium of £320 (+7%) over comparable lots sold in a subsequent sale.
Volume Changes by Age
|
|
Jan-14 |
Feb-14 |
Mar-14 |
Apr-14 |
| < 2 Years |
488 |
557 |
353 |
375 |
|
Previous month Diff |
114.0% |
14.1% |
-36.6% |
6.2% |
|
2-4 Years |
3,082 |
2,668 |
2,949 |
2,539 |
|
Previous month Diff |
171.3% |
-13.4% |
10.5% |
-13.9% |
| 4.1-6 Years |
2,638 |
2,280 |
2,317 |
2,361 |
|
Previous month Diff |
117.1% |
-13.6% |
1.6% |
1.9% |
|
Over 6 Years |
2,977 |
3,078 |
3,579 |
3,945 |
|
Previous month Diff |
123.2% |
3.4% |
16.3% |
10.2% |
Despite sales volumes remaining static in April, the current level represents a 27% increase in LCVs number over the past 12 months.
Commenting on the findings, Alex Wright, chairman of NAMA, commented: 'The data contained within this report continues to demonstrate the underlying strength of the marketplace for used LCVs. However, it would appear that prices for each of the LCV age bands we highlight have become more sensitive to changes in volume and average age/ mileage.
'The LCV market is still very strong, however the seasonal drop during May is due to the bank holiday.
'Whilst the consequences of fluctuations affecting the balance between supply and demand are well understood, this sensitivity to relatively subtle changes in age and mileage might surprise vendors,' he added.