Light deflation expected, following stable wholesale market in lead up to Easter

The UK’s wholesale used car market remained stable in the lead up to Easter with a 1% increase over the same period last year, but there are some signs of deflation, according to the National Association of Motor Auctions (NAMA).

Paul Hill, spokesperson for NAMA, posted an update following the organisation’s April market meeting for 2025: “In the lead up to the Easter bank holiday weekend, we saw stability in the wholesale market but there are signs of some light market deflation.

“This is not unexpected, especially after what has been a particularly steady and stable first quarter.”

LCV segment

Overall, this segment has remained stable, with positive movements across the board, with some reporting stronger van conversions.

However, there has been a slight slowdown in the buildup to the Easter holiday.

From the fleet perspective volume remains low, and NAMA members have specifically noted that electric vans in particular are not performing as strongly as ICE equivalents.

In April, feedback from retailers is that electric vans have taken an average of 7 days longer to find a retail buyer.

Overall market

Overall, NAMA members have reported a slight seasonal deflation, which is to be expected at this time of year.

While stock levels have risen slightly for some, there is still a clear demand for more inventory.

Buyers are appearing to exercise slightly more caution in the buildup to Easter, but the market continues to see healthy levels of demand.

Petrol continues selling well, particularly those between five and 10 years old, but sub-one year old BEV models have been experiencing some challenges.

Hill added: “While the market has eased slightly, there are still signs of healthy levels of demand and some increase in supply across most age ranges.

“The market appears to be progressing steadily.

"NAMA members remain optimistic, expecting activity to pick up over the next couple of weeks and build on the positive momentum seen so far this year."