The National Association of Motor Auctions (NAMA) has published its monthly car auction data report this week for May 2018.
The report shows that overall in May:
- First time conversion rates decreased by -5.5% to 75.0% from April
- Average selling value was down slightly by -0.4% from £5,677 to £5,657 from the previous month, and was up by a significant 9.3% from last May’s figure of £5,176
- Average mileage was down by -0.3% to 65,190 from April, however was up by 1.3% on the same period last year
- The first time premium was £22, down -33.3% on last month’s figure of £33
Whilst auction activity has been buoyant in 2018 so far, performance was more mixed this month.
The average first time conversion rate was -5.5% lower than April and -8% lower than March at an average of 75%. However this is still almost 1% higher than the same period last year.
Stock volumes at auction were reported to be reasonably high and hammer prices notably weaker. With that said, it is believed that around 2.5% more cars were sold at auction than in May 2017.
The outlook continues to look positive for the coming months, although the balance between vehicle supply and customer demand will remain key to auction performance.
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