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NAMA survey shows auctioneers bullish about future car sales

Auction houses continue to experience strong vehicle values, even with increased volume supply, according to the National Association of Motor Auctions (NAMA). In response to the latest NAMA survey, 40 per cent of auctioneers who responded said they expect auction volumes for cars to increase, with a further 50 per cent expecting them to remain the same. This increase is in part down to September part-exchange cars making their way to auction.  

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Related news:

  1. NAMA predicts ‘strong February’ for motor auction sector
  2. Auctioneers expect volumes to increase in April
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  4. Auction demand expected to remain strong in February
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It’s an ill wind…

Much has been written about the economic effects of the Covid-19 pandemic and the subsequent lockdown and it is fair to say that, in general, these effects are perceived as negative. However, not everyone are wringing their hands and moaning about how awful it all is – auction houses have been reporting a strong market in used vans during the month of September, with demand exceeding supply, thus pushing up used van values past last year’s levels.

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Motor auctions see rising volumes with prices remaining high

Auction houses are experiencing strong vehicle values and a strong demand for stock, according to the National Association of Motor Auctions (NAMA).

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Related news:

  1. 2016 a record year for motor auctions
  2. MP visits NAMA member
  3. Vehicle volumes set to fall as used car market enters final quarter says NAMA
  4. Auction demand expected to ‘level out’ in March
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Q1 2020 used car sales were stable before lockdown

The used car market in Q1 2020 saw a fall of -8.3 per cent in comparison to Q1 2019, with 1,851,919 transactions taking place. In Q1 2019, that figure was 2,020,144. However, in January and February, the market had grown by +2.9 per cent and +4.0 per cent respectively compared to their figures in 2019, showing the used car market had a strong start to the year. The COVID-19 outbreak, and subsequent halt of auction transactions however meant March sales fell -30.7 per cent, causing the quarter overall to indicate a reduction of sales.

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NAMA issues advice on opening to auctions

Following the government closure of auctions due to the ongoing coronavirus outbreak, NAMA has looked at ways in which its members can maintain operations and continue to sell vehicles to customers safely.  “We have issued guidance for our motor auctions to give them advice on how they can effectively and safely maintain their business activities during the current lockdown,” said Louise Wallis, head of the National Association of Motor Auctions (NAMA) regarding the opening of motor auctions during the COVID-19 restrictions.

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  2. MP visits NAMA member
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  4. Q1 2020 used car sales were stable before lockdown
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Auction demand expected to ‘level out’ in March

“Following the past few months of strong volume growth, respondents to the survey are expecting volumes to stabilise during March,” said Louise Wallis, head of the National Association of Motor Auctions (NAMA), commenting on the latest figures from NAMA’s market attitude survey.

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  1. 2016 a record year for motor auctions
  2. Vehicle volumes set to fall as used car market enters final quarter says NAMA
  3. Auctioneers expect volumes to increase in April
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Used car market ends 2019 with increase in Q4

The used car market saw a growth of 2.4 per cent in the last quarter of 2019 with 1,804,343 transactions. Overall in 2019, the used car market finished almost on par with the previous year with a marginal decline of -0.1 per cent and a total of 7,935,105 sales. Used petrol declined by -0.3 per cent, diesel -0.6 per cent, while combined alternative fuel vehicles grew by 23.4 per cent. Transactions of Euro 6 diesel models were up 32.5 per cent.

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Auction demand expected to remain strong in February

“A majority of respondents to this month’s survey have indicated that they expect auction volumes to stabilise in February following an increase in supply during January,” said Louise Wallis, head of the National Association of Motor Auctions (NAMA), commenting on the latest figures from NAMA’s market attitude survey.

Read more

Related news:

  1. NAMA predicts ‘strong February’ for motor auction sector
  2. Auctioneers expect volumes to increase in April
  3. Conversion rates set to improve in August, predict NAMA members
  4. Used car volumes set to increase in September due to plate change
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Vehicle volumes set to fall as used car market enters final quarter says NAMA

“Half of respondents in this month’s NAMA survey are expecting volumes to fall over the coming month. Volumes of vehicles arriving at auction centres generally reduce towards the end of the year, and this year appears to be no different,” said Louise Wallis, head of the National Association of Motor Auctions (NAMA), commenting on the latest figures from NAMA’s market attitude survey.

Read more

Related news:

  1. 2016 a record year for motor auctions
  2. Auction demand expected to ‘level out’ in March
  3. Used car volumes set to increase in September due to plate change
  4. Used car market ends 2019 with increase in Q4
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Used car conversion rates set to strengthen in October according to NAMA members

“All respondents to this month’s NAMA survey are expecting conversion rates to increase or remain stable in October. Conversion rates improved during September as a factor of shortening vehicle supply, at a time when dealer and car dealerships were looking for stock for their forecourts,” said Louise Wallis, Head of the National Association of Motor Auctions (NAMA), commenting on the latest figures from NAMA’s market attitude survey.

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Used car volumes set to increase in September due to plate change

National Association of Motor Auctions (NAMA) members are positive about the prospects of used cars following the number plate change. “More than 80 per cent of NAMA members are expecting vehicle volumes to increase or remain steady in September. The increase will be promoted by the number plate change with both dealer part-exchanges and leasing company de-fleets arriving at remarketing centres,” said Louise Wallis, head of NAMA, commenting on the latest figures from NAMA’s market attitude survey.

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Related news:

  1. NAMA AGM raises £14,150 for BEN
  2. NAMA predicts ‘strong February’ for motor auction sector
  3. NAMA market attitude survey optimistic about van market
  4. Auction demand expected to ‘level out’ in March
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Used car market declines as consumers delay purchases

“The decline of -2.8 per cent in used car transactions in the second quarter of 2019 was anticipated due to a number of factors that affected the sector over the past months, but the market remains at high levels”, said Sue Robinson, Director of the National Franchised Dealers Association (NFDA) which represents franchised car and commercial vehicle retailers in the UK commenting on the latest SMMT used car figures.

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Conversion rates set to improve in August, predict NAMA members

The latest National Association of Motor Auctions’ market attitude survey has found that more than 50 per cent of members expect conversion rates to increase in August. “This has been assisted by the volume of vehicles coming though remarketing centres which has meant buyers have had less vehicles to choose from and has in turn increased conversion rates of those vehicles that are available to buy,” said Louise Wallis, head of NAMA.

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Related news:

  1. NAMA predicts ‘strong February’ for motor auction sector
  2. Auctioneers expect volumes to increase in April
  3. Used car volumes set to increase in September due to plate change
  4. Auction demand expected to remain strong in February
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NAMA raises £24k for GOSH

The National Association of Motor Auctions (NAMA) raised a phenomenal £24,000 at its annual AGM in May. A cheque was presented to representatives from Great Ormond Street Children’s hospital at the recent executive meeting.

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  1. NAMA AGM auction for BEN is a record breaker
  2. NAMA AGM raises £14,150 for BEN
  3. Vehicle volumes set to fall as used car market enters final quarter says NAMA
  4. Used car market ends 2019 with increase in Q4
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