Overall, the used car market is in a strong position heading towards the tail end of the year, said Paul Hill National Association of Motor Auctions spokesman. Whilst the lack of new car registrations in the past two and a half years has stemmed the supply of used cars for forecourts, values reaching record heights has balanced this out. "NAMA Members are reporting stable trading, and that the … [Read more...]
Auctions still doing well in recession
Despite the challenges currently facing the automobile industry, the auction market is in a positive state. Supply and demand have been stable for the last month, with summer soon to draw to an end. "We are expecting that September will see a steady surge as customers return from holidays, boosting the market”, commented Paul Hill, National Association of Motor Auctions spokesman, after a … [Read more...]
Used cars’ sales booming, says industry
The UK’s used car market grew 108.6% in the second quarter of 2021 according to the Society of Motor Manufacturers and Traders. Some 2,167,504 vehicles changed hands, up 6.6% on 2019 pre-pandemic levels, the best Q2 performance and almost the best quarter ever for the used car market. The increase tracks the country’s gradual emergence from lockdown, as businesses reopened, demand for personal … [Read more...]
Covid-19 has failed to contain car auctions
UK motor auctions have told the National Association of Motor Auctions it is ‘business as usual’ despite the four-week lockdown in England and the additional restrictions across the country. NAMA has recently held a member meeting where auctioneers discussed the challenges facing their businesses due to COVID-19 and analysed the current and future state of the market. The majority of businesses … [Read more...]
Traders attack new consumer advice
Car dealers and auction houses have fallen out with trading standards officers. “It is disappointing that following a number of responses, including our detailed comments on the draft guidance consultation, the Chartered Trading Standards Institute has ignored the majority of the issues NFDA had outlined alongside other industry trade bodies”, said Sue Robinson, Director of the National … [Read more...]
Auctions expected to rise in trade
Over half of respondents in a recent survey expect an increase in auction volumes, said Louise Wallis, Head of the National Association of Motor Auctions, commenting on the latest figures from NAMA’s market attitude survey. Auction volumes are expected to increase by 53% of respondents, with only 20% predicting a fall. Conversion rates are strongly favoured to increase, with 73% believing they … [Read more...]
Auction slowdown expected as normal
Supplies of used models will go down over the next few months as dealers traditionally hold off putting them in auctions. “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 … [Read more...]
Auction prices looking good this month
Car auction prices are expected 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 (pictured), Head of the National Association of Motor Auctions, commenting on the latest figures from their market attitude … [Read more...]
Auction prices encouraging, says trade
More than 50% of auction hall members are expecting 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 the National Association of Motor Auctions, … [Read more...]