The National Association of Motor Auctions (NAMA)has seen volumes of cars sold through its members grow by almost 50% in two years.<\/p>\n
The growth is due to increasing volumes of part exchange cars aged 6.5 years older, it said.<\/p>\n
At the launch of its new format Data Report, NAMA said top condition cars continued to the most desirable at auction.<\/p>\n
Under its grading system, a grade 1 (top condition) car is worth 17% more at auction than a grade 5 (poor condition) vehicle. This discount is just enough for cost price refurbishment.<\/p>\n
NAMA said with more vehicles entering the market, this will rise to 25% as poor condition vehicles find it more difficult to find buyers, creating a more polarised market.<\/p>\n
Its research showed that poor condition vehicles sell better in summer than winter as bodyshops have excess capacity.<\/p>\n
It added that there was no sign of any slow down in van prices due to ongoing supply shortages.<\/p>\n
Richard Parkin, director valuations and analysis Glass\u2019s, said used car prices were showing signs of weakness but said the market was in for a \u201csoft landing\u201d.<\/p>\n
Source: Motor Trader<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"