NAMA REPORT INCREASE IN CONVERSION RATES

The National Association of Motor Auctions (NAMA) has published its most recent car auction data report covering the month of February 2017.

The report shows that overall in February that average selling value decreased -4.8% from £5,296 to £5,041 while average mileage went up by 2.3% to 66,811 and the first time premium was £74.

Louise Wallis, Head of NAMA commented, “Wholesale activity in February was buoyant. It was clear that the excess volumes experienced in January had largely washed through auction centres. “Whilst there was no shortage of stock, demand led to an increase in conversion rates” she added.

“The following weeks will see large numbers of part exchange vehicles enter the market following the plate change in March. The car demand should allow these vehicles to be absorbed by the market as they are brought to supply dealer forecourts to fulfill consumer demand. We look forward to seeing what the rest of the first quarter of 2017 brings.”

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