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Petrol cars show signs of increased wholesale popularity during November

Louise Wallis, head of The National Association of Motor Auctions (NAMA)

Petrol powered used cars showed signs of increased popularity against their diesel counterparts at auction during November, according to statistics published by NAMA.

The National Association of Motor Auctions (NAMA) said that petrol cars had converted at a better rate than diesel for the first time since March at auction last month.

Petrol conversion fell by 1.5% to 80% as diesel fell by 3.7% to 78.9%, but was still 0.9% up on last November.

There remains a “significant gap” between the average sale price of petrol and diesel cars, NAMA Said, however, with the average petrol vehicle sold for £4,130 as the average diesel £7,501.

Overall conversation rates at auction during November fell by 2.6% to 79.4%, which Louise Wallis, head of NAMA, said was “broadly in line with (November) last year”.

NAMA Said that the first time premium was up by £103 on the same period last year, adding that the average mileage of a vehicle sold in the period increased by over 2,000 miles compared to November 2017.

Alternative fuel vehicles (AFVs) made up only 1.4% of the total volume of cars sold.

Wallis said: “Overall, it has been a positive year for the used car market, with data so far this month indicating that the trend is due to continue into the Christmas period.

“Reports show that auction halls have been busy with buyers bidding competitively across all market sectors.

“It is expected that dealers will now turn their attention to building stock up for the New Year, where historically there are fewer fresh entries and prices firm up.

“NAMA is optimistic that demand and prices in the used market will remain high for the remainder of 2018 and into the New Year.”

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