March drop for car auction sales

March drop for car auction sales

Average values of used cars sold at auction dipped last month.

According to the National Association of Motor Auctions, (NAMA) figures lowered across the board - with the new average standing at £5,013, a six per cent drop from February's average of £5,359.

The fall is linked to both a change in mix of vehicles sold and an increased amount of dealer part exchange vehicles, resulting in a negative impact on the average price as transactional activity levels were the same as normal.

Andrew Hulme, NAMA chairman, said: "The fall in key market factors during March is very much typical for this time of year.

"Until there is a decrease in stock and an increase in retail demand and conversion rates, values are likely to continue to fall."

Nevertheless, younger vehicles at auction didn't do too badly, as those less than one and a half years old experienced a value increase.

In fact, the sales of this age bracket were up 67% from March last year, accounting for 6.6% of cars sold last month.

Copyright Press Association 2013