The National Association of Motor Auctions (NAMA) has published its first Light Commercial Vehicle (LCV) market report.
The report covers data for the last 12 months and is derived from used LCV auction sales of circa 100,000 vehicles. The association will continue to publish this report on a monthly basis.
The report shows that during October the average values of used LCV’s at auction across the board increased from £4,550 to £4,675, equivalent to a 3% increase between September and October. This is the third consecutive increase in sales in the LCV market.
The overall market conditions in October were encouraging with total sales volumes increasing by 10% as well as conversion rates rising sharply from 75% to 81%. These favourable conditions were also witnessed in the two months prior to October.
Alex Wright, chairman of the NAMA Commercial Vehicle Group commented “October recorded both the highest prices and sales for the year so far. This all points towards an underlying strength within the LCV market which could carry the sector smoothly into 2013.
“NAMA believe that during November the underlying stock shortages that are a continuing feature of the long term market will become evident once again. We would also expect to see a few dealers start to proactively buy for January.”