Other findings include that volumes saw a 9% fall to 8,394 units and the average ages of LCV’s sold at auction fell to 66.6 months.
The average number of days that LCVs remained on site went up from 12 to 14 days, and the average mileage fell -4% from last month to 81,867 miles.
Price Changes by age
|
|
Feb-14 |
Mar-14 |
Apr-14 |
May-14 |
|
<2Years |
£10,975 |
£12,005 |
£11,215 |
£12,395 |
|
Previous month Diff |
-1.5% |
9.4% |
-6.6% |
10.5% |
|
2-4Years |
£6,580 |
£7,020 |
£7,135 |
£7,065 |
|
Previous month Diff |
2.2% |
6.7% |
1.6% |
-1.0% |
|
£4,405 |
£4,470 |
£4,885 |
£4,780 |
|
Previous month Diff |
2.2% |
6.7% |
1.6% |
-2.1% |
|
Over6Years |
£2,555 |
£2,460 |
£2,370 |
£2,465 |
|
Previous month Diff |
1.8% |
-3.7% |
-3.7% |
4.0% |
According to NAMA, the significant percentage rise in average price recorded in May was attributable to increases delivered by the newest and oldest LCV stock.
An overall monthly rise of 5.1% lifts the average price of an LCV sold at auction by 14% above where it stood a year ago.
Volume Changes by Age
|
|
Feb-14 |
Mar-14 |
Apr-14 |
May-14 |
|
<2Years |
557 |
353 |
375 |
449 |
|
Previous month Diff |
14.1% |
-36.6% |
6.2% |
19.7% |
|
2-4Years |
2,668 |
2,949 |
2,539 |
2,433 |
|
Previous month Diff |
-13.4% |
|
-13.9% |
-4.2% |
|
2,280 |
2,317 |
2,361 |
2,158 |
|
Previous month Diff |
-13.6% |
10.5% |
-13.9% |
-8.6% |
|
Over6Years |
3,078 |
3,579 |
3,945 |
3,354 |
|
Previous month Diff |
3.4% |
16.3% |
10.2% |
-15.0% |
To the end of April, as registrations of new LCVs had increased by 12%, it would have been reasonable to expect that this would have generated additional used van and pick-up stock. However, NAMA found that in May overall sales volumes fell by 9% which, with conversion rates having now slipped by 4% over consecutive months, suggests that demand dipped over the Bank Holiday weeks.
Commenting on the findings, Alex Wright, Chairman of NAMA Commercial Vehicle Group said: ‘A sharp fall in volume and a significant reduction in age suggest the strong returns enjoyed by vendors in May could mark the high point for prices in 2014.
‘With sales volumes and age having moved downwards as prices leapt forward in May, this is a pattern which is unlikely to continue over the summer. Encouragingly, some vendors have already aligned their expectations to this reality.
‘Accordingly, despite the prospect of lower price levels over the next couple of months, conversion rates should hold firm which will position LCV wholesalers to take full advantage of any autumn uplift.’