“The decline of -2.8 per cent in used car transactions in the second quarter of 2019 was anticipated due to a number of factors that affected the sector over the past months, but the market remains at high levels”, said Sue Robinson, Director of the National Franchised Dealers Association (NFDA) which represents franchised car and commercial vehicle retailers in the UK commenting on the latest SMMT used car figures.
The latest National Association of Motor Auctions’ market attitude survey has found that more than 50 per cent of members expect 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 NAMA.
The National Association of Motor Auctions (NAMA) raised a phenomenal £24,000 at its annual AGM in May. A cheque was presented to representatives from Great Ormond Street Children’s hospital at the recent executive meeting.
Findings of the latest NAMA market attitude survey show that the general feeling continues to be that the Euro 6 van market will remain strong. Nearly half of respondents (46 per cent) expect Euro 6 van values to increase and the same percentage believe they will stay stable. By contrast, over half of respondents expect values to decline in the pre euro 6 van market. “NAMA members expect the Euro 6 van market to stay strong as Government clean air policies encourage businesses to purchase these vehicles” said Louise Wallis, head of the National Association of Motor Auctions (NAMA).
The National Association of Motor Auctions (NAMA) held its annual AGM on the 18 May in the Algarve, Portugal. A charity auction in aid of Great Ormond Street Children’s hospital took place following the AGM, raising £24,000.
The National Association of Motor Auctions (NAMA) expects used car volumes to increase in May through dealer part-exchanges and corporate de-fleets, according to the latest figures from NAMA’s market attitude survey. As volumes increase, auction houses are expecting first time conversion rates to fall as buyers have more cars to choose from. This is normal for this time of year following the plate change, and suggests the market is following the usual trend as the supply of vehicles grows.
The National Association of Motor Auctions’ (NAMA) market attitude survey shows that most auction centres expect to see petrol and diesel car values remain stable, with only five per cent of respondents expecting a decrease in petrol prices and 15 per cent expecting a drop in diesel. Values of Alternative Fuel Vehicle (AFV) which include hybrid and electric vehicles are thought also to remain steady during April, although unlike petrol and diesel, some members have indicated that these values could actually increase as demand for them steadily rises.
James Tomlinson, chairman of The National Association of Motor Auctions (NAMA), has revealed an optimistic outlook from the association’s latest sentiment survey. “February looks set to be a strong month for motor auctions, with the majority of sites expecting both volumes and conversion rates to increase,” he said.
“The overall used car market reached record highs in 2018, despite pressures in the new car market with the introduction of the Worldwide Harmonised Light Vehicle Test Procedure (WLTP) in September”, said James Tomlinson, chairman of The National Association of Motor Auctions (NAMA).
Kemi Badenoch MP visited National Association of Motor Auctions (NAMA) member, Aston Barclay Car Auctions in Chelmsford on Thursday 26 July.
The National Association of Motor Auctions (NAMA) held its annual AGM on the 28 April in Lisbon, Portugal. A charity auction in aid of BEN – the automotive industry charity, took place following the AGM, raising £14,150.
The National Association of Motor Auctions (NAMA) held its annual AGM on 20 May in Belfast. A charity auction in aid of automotive industry charity BEN took place following the AGM, raising a record-breaking £17,450.
2016 saw record used car sales of 7.7 million and this translated into a very busy year for auctions, as dealers bought cars to fill forecourts to meet consumer demands. “Following what could be described as an uncertain political and economic climate, 2016 marked a strong performance from the UK motor auction sector”, commented Louise Wallis, head of The National Association of Motor Auctions (NAMA).
Sometimes it pays to think small. Qingdao Nama Industrial Co. Ltd, manufacturer of the Nama tyre brand, has found a niche market on the lower end of the rim diameter scale. Tyres & Accessories spoke with company chief executive officer William Liu at CITExpo, and Liu showed off several diminutive products (the smallest had just a 10-inch rim diameter!) including a product aimed at the European market.
Recently, the National Association of Motor Auctions (NAMA), the UK’s leading representative body for vehicle auctions, sent a letter to the newly appointed secretary of state for transport, Rt Hon Chris Grayling MP, raising the subject of odometer fraud, or ‘clocking’; the practice of altering a vehicle’s odometer to show a lower mileage than that actually travelled, thereby increasing the re-sale value of the vehicle.
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