NAMA predicts ‘strong February’ for motor auction sector
James Tomlinson, chairman of The National Association of Motor Auctions (NAMA), has revealed an optimistic outlook from the association’s latest sentiment survey. “February looks set to be a strong month for motor auctions, with the majority of sites expecting both volumes and conversion rates to increase,” he said.
Findings show that several auction houses expect a continuation of the 2018 trend of increased values for petrol vehicles, suggesting demand will continue to outstrip supply in this segment.
Plug-in hybrid demand is cooling, according to the survey, while 23 per cent of members expect to see an increase in BEV (Battery Electric Vehicles). It is expected that in 2019 we will start to see more plug-in hybrids and BEVs going through auctions increasing supply and starting to normalise their price behaviour.
Average age and mileage look set to remain steady over the coming month, although around 30 per cent of respondents have indicated that both could increase.
Tomlinson continued, “NAMA’s new survey aims to give a monthly insight into the market with data sourced from our members. The first survey which launched this month saw strong engagement with 70 per cent of NAMA members contributing.”