November report from NAMA shows small rise in average sale price
The average sale price of used cars at auction increased by 0.4% from October to November, according to the latest monthly car auction data report from the National Association of Motor Auctions (NAMA).
The report, published on Tuesday, shows that the average selling value rose to £5,370 from £5,347 in October.
At the same time, lower mileage cars continued to increase in number. The average mileage of cars sold at auction last month was 64,738, down 1.7%.
First time conversion rates dropped 0.9 percentage points to 79.2%, but were still up 2.9 points on the same month last year.
"Despite this slight drop in conversion rate performance it is believed that the volume sold in the month exceeded last year by a reasonable margin," NAMA said in the monthly report, as quoted by Automotive Management Online.
The premium achieved by selling first time in November was £80. That's a decrease of £106 compared to October and down £14 compared to November 2015.
Commenting on the November 2016 figures, Louise Wallis, head of NAMA, said: "Wholesale used car activity throughout November only cooled slightly compared with October which underlines how strong auction activity has been during the final quarter of 2016.
"We look forward to seeing what the auction market has in store following the Christmas and New Year break.