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Remarketing sector is upbeat about October and Q4 markets, says NAMA

Louise Wallis, head of NAMA

The used car market is predicted to remain strong through the fourth quarter of 2019, says the National Association of Motor Auctions, following its latest market attitude survey.

They predict dealer demand for stock to be strong - auction firms predict their sales conversion rates will either remain steady or improve through October, and they don’t expect values to fall.

One in three motor auctions expect values of battery electric vehicles (BEV) to rise this month, due to demand exceeding supply in the new car market.

That echoes a similar prediction last month.

And with WLTP now in effect for new LCVs, and low emission zones in some cities, demand for Euro-6 compliant vans continues to remain very strong with 67% of respondents expecting values of these vehicles to increase, said NAMA.

“Overall vehicle auctions are responding well to the market, however there are growing reports from dealers that it is becoming more difficult to source good quality cars at auction,” said Louise Wallis, head of NAMA (pictured). 

"The consequence is strengthening conversion rates and a positive impact on vehicle values.  In the alternative fuel car market, a shortage of new vehicles to sell is making used vehicles attractive for those who are unable to wait, and again this is helping support values and conversion rates.

“We expect to see a strong used car market in the final quarter of 2019.”

 



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