The National Association of Motor Auctions (NAMA) has published its monthly car auction data report for October 2017.
The report shows that overall in October:
- First time conversion rates decreased by -2.2% to 83.2% from September- however the rate was up 3.1% on the same period last year
- Average selling value decreased -2.3% from £5,893 to £5,759 from the previous month, however positively was up 7.7% from last Octobers figure of £5,347
- Average mileage went up by 1.2% to 64,054 – falling by 1,793 miles compared to the same period last year
- The first time premium was -£70 – a -137% decline on last month
Louise Wallis, head of NAMA, said, “Auction activity declined in October which is fairly normal this time of year, however the month did start off on a high note following the strong market in September.
“Demand from buyers eased through the month and as a consequence hammer prices fell.
“We anticipate that auction activity will remain stable going into the final quarter.”