The National Association of Motor Auctions (NAMA) has published its monthly car auction data report today for May 2017.
The report shows that overall in May:
First time conversion rates decreased by -1.2% to 74.1% since April – the rate was up by 0.9% on the same period last year
Average selling value increased 3.0% from £5,027 to £5,176
Average mileage went down by -0.1% to 64,379
The first time premium was £61 – down by £30 (-33.0%) on last month, and down by £143 (-70.1%) on the same period last year.
Louise Wallis, Head of NAMA commented, “Activity in the auction market throughout May continued to be challenging.
“High stock volumes and a lack of desire from buyers to pay what many consider to be above market prices for average stock, has led to a further weakening in conversion rates.
“With the summer months among us, we are keen to see the auction market stabilise.”