Car auction prices up in December
The National Association of Motor Auctions (NAMA) has reported that car auction data revealed that first time conversion rates decreased 1.9% to 77.7% from November to December last year, but average selling value increased 2.4% from £5,558 to £5,693.
The average sale price was also up 3.9% from last December’s figure of £5,477.
Meanwhile, average mileage went down by 0.8% to 63,800 from November but remained static on the same period last year.
Louise Wallis, head of NAMA, said, ‘Auction activity declined overall in December which is normal for the time of year. Lower demand for cars affected conversion rates and hammer prices.
‘The New Year has started to see better results, and there is a good supply of vehicles giving buyers a wide choice. Demand has been picking up since the first week of the month, which should help values and conversion rates.’