AUCTION VALUES ‘REMAIN EXTREMELY STRONG’

Auctioneers have reported that values for petrol and diesel light vehicles have remained strong so far this year, despite the lockdown.

Values remain high, despite a switch away from physical auctions like this

Trade body NAMA has found that nine out of 10 members that responded to a survey believe both petrol and diesel values would remain strong or further increase. Auctioneers also say first time conversion rates are performing well, with 67 percent expecting rates to increase over the next month, with the remaining third expecting them to stay the same.

2020: EUROPE’S TOP NEW AUCTION HOUSE

Perhaps unsurprisingly, given that physical locations have been closed or strictly limited, the vast majority of respondents said that on-line sales are ‘up considerably’ from this time last year.

NAMA’s findings come on the back of the used car figures being published. In Q4 2020, there were 1,693,138 used car transactions, which is down -6.2 percent from Q4 2019. The overall 2020 year-to-date figures were down -14.9 percent at 6,752,959 transactions.

READ: USED CARAVAN SALES SURGE

Louise Wallis, Head of NAMA, commented: “In line with expectations, petrol and diesel values have remained extremely strong. The strong values, coupled with robust conversation rates, demonstrate that there is an appetite for vehicles at auction. As consumer confidence remains high, we anticipate there will be significant pent-up demand for stock once lockdown restrictions are eased.”

For the latest news and analysis from around the aftermarket, sign up to the CAT eNewsletter today

Published by GregWhitaker

Editor of CAT Magazine and an experienced motoring journalist

NEW HOME FOR ABSOLUTE ALIGNMENT

Firm moves to new, larger Aldershot HQ

Read More

AXALTA COMPLETES U-POL ACQUISITION

Deal for body consumables company valued at $590m

Read More

CAZOO ACQUIRES SMH, DOUBLING REFURB CAPACITY

£70m deal vastly expands the retail start-ups preparation and logistics capability

Read More

AUTOMECHANIKA DIGITAL PLUS HAPPENING NOW

Automechanika Frankfurt is underway in a limited physical form at the Messe Frankfurt showground as well as online through a ‘Digital Plus’ form, a combination known as a ‘hybrid’ event. READ: AUTOMECHANIKA B’HAM TO HOLD 2022 […]

Read More

SUPPLIER NEWS: APEC BLACK IN AT PARTS IN MOTION

Bristol-based supplier’s premium brand now in at online retailer

Read More

Go to comments

Your email address will not be published. Required fields are marked *