The average value of used cars sold at auction decreased from £5,013 to £4,862 during April.
The total volume of sales fell 6% from 96,265 units to 90,645 as a result of reduced activity following the Easter break, according to the monthly report from the National Association of Motor Auctions.
Transactional activity fell back across all segments overall in April, although the volume of declines was primarily amongst the manufacturer/rental and fleet segments.
Average prices continued their downward trend, with the month averaging 3% below prices achieved in March.
However, this decline is largely generated by a continued shift in volumes towards dealer part-exchange vehicles.
Price changes April compared to March, by customer type*
As conversion rates have continued their slide as buyers become more discerning, so too have values.
In the fleet sector, prices remain ahead of those achieved during April 2012 and, with average prices in that segment rising this month, the year-on-year difference has benefited from 8% reduction in average mileage and a 10% reduction in volume.
4x4 and convertible prices during the last three months
Prices for convertibles have been rising steadily although remain considerably below their position was one year ago. Prices for 4x4s have held on well, although as large petrol engine variants are not particularly sought after, the market are now opting for good examples of smaller diesel-engine models. The high conversion rates for General Market Convertibles look set to continue although there is some concern that this demand will not last as long as it has in previous years, due to unease over the summer weather forecast.
Justin Lane, NAMA chairman, said: “Overall sales volumes fell back across April as a result of reduced activity during Easter break, however, the market now appears to have moved to its new phase, and conversion rates have settled at a level that is likely to be consistent during the coming four weeks.
“The high volume of Dealer part-exchange product is confirmation of a much healthier new car market in 2013 and although prices are expected to soften in the coming months the market is able to accommodate the additional dealer part-exchange volume without signs of any distress at the moment.
“With the second bank holiday weekend looming upon us, we anticipate activity over the long weekend may have a positive effect on both conversions and prices in the auction halls in the weeks immediately following.”
* Manufacturer/rental: 0.5 - 2.5 years old; fleet: 2.6 to 4.5 years old; dealer px 4.6 years or older.
Login to comment
Comments
No comments have been made yet.