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4% rise in Used Car Auction values in August

Home / News / 4% rise in Used Car Auction values in August

Motor Trader [motor.trader@metmailer.com] report that Average values of used cars sold at auction rose 4 % in August, according to the National Association of Motor Auctions (NAMA).
Average values of fleet cars rose 3 % while dealer part exchanges fell by 1 %.
NAMA chairman Andrew Hulme said: “Whilst it is encouraging to report transaction prices slightly higher in August, continue to report challenging conditions.
“The auction and wholesale market remains finely balanced between supply and demand and it remains important that vendors remain vigilant, flexible and pro-active throughout autumn as the increase in stock from fleet and dealer sectors shifts the supply/demand balance.”
Hulme said top grade vehicles will continue to be in demand but vehicles, with incomplete histories will be priced down by selective buyers.
“The fresh stock entering the market represents a great opportunity for professional buyers to acquire stock for retail sale,” he said