Wholesale vehicle market ‘as good as it gets’
Demand continues to outstrip supply in the wholesale vehicle market, according to new figures released by for the National Association of Motor Auctions (NAMA).
August has so far been one of the joint strongest months on record, with NAMA members saying the month is ‘as good as it gets’.
According to the NAMA Market Update, conversion rates were high, stock levels tighter than usual, and values have remained stable.
Fleet activity is particularly strong as supply shortages continue to drive competition. Members have reported that demand for grade 1s and 2s remains intense, with average costs up £1,500 on the same month last year and selling times shortened.
Electric demand
Sales volumes of electric vans have also risen significantly year-on-year. Demand for electric vehicles is rising in other sectors too, with three to five-year-old models selling in just 24 days.
NAMA spokesperson Paul Hill said: “The wholesale market remains buoyant, with demand consistently outstripping supply and conversion rates near record levels. For the first time in a long time, we’ve seen real stability across the wholesale market, with guide prices set to remain steady into September.
“As we move into the final quarter, all eyes are on how retail activity responds, but for now the outlook for wholesale remains very strong.”
