Auction trade body NAMA reports ‘stable’ used car market

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Members of the Nationwide Affiliation of Motor Auctions (NAMA) are reporting a steady marketplace for used automobiles because it strikes into the ultimate quarter of 2022.

The physique, which sells 95% of all automobiles within the wholesale sector, mentioned demand within the wholesale sector had fallen barely however in keeping with expectation.

“As a complete, nonetheless, there are sufficient patrons on the market all in favour of shopping for inventory”, mentioned Paul Hill Nationwide Affiliation of Motor Auctions (NAMA) spokesman, after a gathering was held this week with key trade figureheads to debate present trade points.

During the last 4 weeks of buying and selling the retail market has reported fall in demand from customers, compared to the earlier 4, which is predicted from retailers. The effectively documented points relating to provide, driving the worth of used automobile values up, has maintained this degree and seems to be regular. Demand for diesel continues to be lowering, while petrol and BEV stay because the markets focus.

The industrial automobile market stays strong, and demand is robust, reflecting the seasonality of the market share.

NAMA Members highlighted how unbiased patrons proceed to focus on good situation and high-quality LCVs. General, values are anticipated to fall over the approaching months, however nothing to be involved about.

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