The association’s Light Commercial Vehicle (LCV) market report for August shows that the rise to £4,771 came as volumes fell 16.8% compared to the previous month, and the average mileage of LCVs fell below 80,000 miles for the first time this year. However, NAMA said that the emerging general trend of year-on-year increases in auction volumes was again reflected with a 6% increase in volumes sold in August versus this time last year.
NAMA added that this is the second highest value this year, beaten only by the average prices that were achieved in January, which is typically expected to be a strong month.
Average values of vehicles up to two years of age increased in August by 2.3% to £11,620 which is £1,200 up on August last year across a similar volume, although based on a slightly lower average mileage.
Alex Wright, NAMA LCV chairman, said: “August was a steady month in the LCV market and trends are beginning to get back to normal.
“It is also positive to see that vehicles in the age 6+ category are no longer the largest. All extended contract utility vehicles are coming to an end and we are now seeing a welcome rise in volumes for the 2-4 year age group.
“It is also worth looking at how much more volume is in the market compared to three years ago – yet prices remain higher. It will be interesting to see if this can be sustained.”
