The Society of Motor Auctions (SMA) will be changing its name to the National Association of Motor Auctions (NAMA) on April 13.
The rebranding will coincide with the launch of a new monthly market data survey by NAMA. It follows calls from the industry back in February for the auction and remarketing sector to share more information.
The survey will use current data from NAMA’s auction members, including auction prices split by age of sector and customer type, conversion rates split by age of vehicle and customer type, average mileage data and the number of entries per vehicle.
In a statement, NAMA said: "The name change will help refocus and develop the association to reflect the modern motor auction sector
"The survey will also allow us to make authoritative and independent market commentary as well as to engage with a wide motor industry audience.”