Volumes saw a 2.7% increase to 10,478 units, and the average age of LCV’s sold at auction remained at 67.7 months.
Price Changes by age
|
|
Apr-15 |
May-15 |
Jun-15 |
Jul-15 |
|
<2Years |
£11,560 |
£11,135 |
£11,005 |
£11,355 |
|
Previous month Diff |
0.3% |
-3.7% |
-1.2% |
3.2% |
|
2 – 4 Years |
£6,835 |
£6,670 |
£6,540 |
£6,415 |
|
Previous month Diff |
2.2% |
-2.4% |
-1.9% |
-1.9% |
|
£4,825 |
£4,715 |
£4,770 |
£4,640 |
|
Previous month Diff |
8.2% |
-2.3% |
1.2% |
-2.7% |
|
Over 6 Years |
£2,265 |
£2,405 |
£2,330 |
£2,370 |
|
Previous month Diff |
3.9% |
6.2% |
-3.1% |
1.7% |
The average price achieved for LCV’s increased in July by 1%. However, compared to this period last year, average prices sat 4.5% lower. NAMA found that whilst it is interesting to compare average selling prices and it is a measure that has long been used by auction companies, it is difficult to draw any cast-iron conclusions without looking at a more granular level, as factors including volume, mix, age and mileage can affect the output.
Volume Changes by Age
| Apr-15 | May-15 | Jun-15 | Jul-15 | |
| 499400484573 | ||||
| Previous Month Diff | 8.5% | -19.8% | 21.0% | 18.4% |
| 2 – 4 Years | 2,537 | 2,673 | 2,985 | 3,123 |
| Previous Month Diff | -34.1% | 5.4% | 11.7% | 4.6% |
| 4.1 – 6 Years | 2,646 | 2,635 | 2,944 | 3,032 |
| Previous Month Diff | 0.4% | -0.4% | 11.7% | 3.0% |
| Over 6 Years | 4,291 | 3,859 | 3,789 | 3,750 |
| Previous Month Diff | -2.2% | -10.1% | -1.8% | -1.0% |
Units sold in July increased for the third consecutive month to 10,478. Units under two years of age increased by 18.4% over the previous month and 43% over this year’s low point in May.
“This month’s NAMA LCV report suggests that vendors that are going to the market are reaping the rewards and moving stock along. In comparison, those following the books are paying the price and are sitting on stock for a lot longer," commented Alex Wright, NAMA LCV chairman.
“Increased volumes have contributed to slowing conversion rates, and average prices have also fallen. This has been compounded by manufacturers driving new sales through purchasing and leasing.
“The commercial market is definitely showing signs that it has reached its peak in terms of prices, however we are not anticipating a significant decline in prices – just a slight depreciation. The average age of vehicles has increased over this time last year – suggesting that there is still a great influx of older vehicles washing through.
“We are by no means concerned following the -6.7 drop over July 2014, as historically July and August are typically quieter months due to the summer holidays and this is now seen as a seasonal trend. We hope to sales of LCV’s grow over the coming months," he added.