It is ‘business as usual’ in the used car market, despite the nationwide uncertainty in the UK following the EU referendum vote in June.
The National Association of Motor Actions (NAMA) published its latest car auction data report, showing that auction activity in September was “very strong”, continuing a surge of activity that started the previous month.
The report shows that in September:
- First time conversation rates increased by 4.6% to 82.3%. However, were still down 0.2% on the same period last year
- Average selling value increased 0.1% to £4,829
- Average mileage went down to 67,799, broadly in line for the same period last year
- The first time premium was £192, down by £42 in August. However this was up £22 on the same period last year.
Louise Wallis, head of NAMA, said: “Auction activity throughout September remained strong from the surge which began in August following our vote to leave the EU, showing the economy remains strong and business is still as usual.”
Data source: Glass's