The National Association of Motor Auctions (NAMA) has reported a 0.4% decrease in first time conversation rates but a 2% increase in the average vehicle value at auction in December.

First time conversion rates fell to 78.8% but remained 2.5% up on the same period last year as the average vehicle selling price increased from £5,370 to £5,477 in the final month of 2017.

Average mileage went down for the 4th consecutive month, settling at a 1.4% decline to 63,830 miles.

The first time premium was £63, down by £17 (-21.3%) on November and £266 (-80.8%) on the same period last in 2015.

Louise Wallis, head of NAMA, said: “Wholesale activity in December was at times challenging when compared to the last few months of 2016 where auction activity was strong.

“Some vendors chose to hold back in December and opted to wait for better trading conditions in January. This expectedly affected the mix on offer, and ultimately the overall market performance. 

“We now look forward to seeing what the 2017 auction market now has in store.”

In its ‘late and low’ category NAMA said that the first time conversion rate of vehicles up to 2.5 years of age was 80.8%, down compared to November by 1.5% but ahead of last year by 3.7%.

The average selling value during December was up by 1.4% compared to November at £13,049 – over 4% higher than December 2015 – with the premium achieved by selling first time increased 104.5% on November, at £274.

Fleet profile stock converted at 78.6% In December which is only 1.5% down on November. This is almost 4% higher than prior year, NAMA reported. 

The premium achieved by selling first time was down by £46 compared to November to £127 with an average mileage of 40,667 7,605 lower than that of December 2015.

Part-exchange cars aged between 4.6 and 6.5 years converted at the first time of asking 72.2% of the time in December – 1.3% up compared to prior year.

The average selling price of £5,513 was 3.2% down on November but 3.4% higher than December 2015 and the premium achieved by selling first time increased from £68 in November to £99 in December.

Older part-exchange stock – between 6.6 and 10.5 years – experienced a 3.4% dip on November’s £2,783, falling to £2687, but was 2.2% higher than last December’s £2,630 average.