NAMA survey reveals growing auction house confidence
A new NAMA survey has shown that confidence among UK automotive auctions has been growing steadily this year, with vehicle values rising.
The National Association of Motor Auctions research also found that more than 70% of those questioned said they are expecting to see an increase in petrol, diesel and hybrid values over the next month.
Consumer demand for used vehicles has been growing steadily over recent months, due partly to the long lead times for new vehicles.
This has resulted in average values of good quality used cars rising at both retailers and auctions houses.
Volumes steady
Meanwhile, 50% of respondents in the survey said they expect to see volumes of used vehicles coming into auction to stay the same over the next month, while 35% predicted volumes would increase.
Paul Hill, spokesperson for NAMA, said: “Whilst the market has eased slightly, there are still signs of healthy levels of demand and some increase in supply across most age ranges.
“The market appears to be progressing steadily. NAMA members remain optimistic, expecting activity to pick up over the next couple of weeks and build on the positive momentum seen so far this year.”
