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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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15th May 2020/by Andrew

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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12th May 2020/by Andrew

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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13th March 2020/by Andrew

NFDA on CTSI consumer law guide for used car industry

Legislation, UK News

The Chartered Trading Standards Institute (CTSI) has published a free guide on consumer law for the UK used car industry, titled Car Traders and Consumer Law.

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3rd March 2020/by Andrew

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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13th February 2020/by Andrew

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.

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12th February 2020/by Andrew

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.

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12th November 2019/by Andrew

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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7th October 2019/by admin

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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13th September 2019/by Andrew

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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15th August 2019/by admin

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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8th August 2019/by Andrew

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.

11th July 2019/by Andrew

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).

4th July 2019/by Andrew

NAMA’s 50th AGM raises £24,000 for Great Ormond Street

The National Association of Motor Auctions (NAMA) held its annual AGM on the 18 May in the Algarve, Portugal. A charity auction in aid of Great Ormond Street Children’s hospital took place following the AGM, raising £24,000.

23rd May 2019/by Andrew

Used car volumes expected to increase in May

The National Association of Motor Auctions (NAMA) expects used car volumes to increase in May through dealer part-exchanges and corporate de-fleets, according to the latest figures from NAMA’s market attitude survey. As volumes increase, auction houses are expecting first time conversion rates to fall as buyers have more cars to choose from. This is normal for this time of year following the plate change, and suggests the market is following the usual trend as the supply of vehicles grows.

9th May 2019/by Andrew