NAMA market attitude survey optimistic about van market
Findings of the latest NAMA market attitude survey show that the general feeling continues to be that the Euro 6 van market will remain strong. Nearly half of respondents (46 per cent) expect Euro 6 van values to increase and the same percentage believe they will stay stable. By contrast, over half of respondents expect values to decline in the pre euro 6 van market. “NAMA members expect the Euro 6 van market to stay strong as Government clean air policies encourage businesses to purchase these vehicles” said Louise Wallis, head of the National Association of Motor Auctions (NAMA).
Overall, 42 per cent of NAMA members expect volume to remain the same as the previous month. In terms of car values, views are mixed. Exactly half of respondents expect petrol values to remain static, 29 per cent foresee an increase in value and 21 per cent predict a decrease. Interestingly, last month, only 13 per cent expected petrol values to increase and 33 per cent anticipated a decline. With regard to diesel, 57 per cent think diesel value will remain the same, whilst the remainder expect a decline.
In line with our previous months’ findings, the vast majority of NAMA members expect values of Alternative Fuel Vehicles (AFVs) to remain stable. The percentages of those who answered AFVs’ values will ‘stay the same’ are very similar for Hybrids (77 per cent), Plug-in Hybrids (77 per cent) and Battery Electric Vehicles (69 per cent).
Generally, respondents are more confident about first time conversion rates this month. In June, 60 per cent thought first time conversions would fall as opposed to 36 per cent in July. While only 13 per cent anticipated an increase in June, this percentage has now risen to 29 per cent.
Wallis continued, “There is more optimism about first time conversion rates. Fewer members than last month predict a decline in first time conversion rates whilst more anticipate them to remain steady or increase. This demonstrates the importance of presenting vehicles well and pricing them competitively.
“Despite softening car values, auctions are still performing well and remain the best place for buying and selling vehicles quickly and efficiently.”