However, the overall view of members is that the market has a stronger start to 2023 compared to 2022.
NAMA reports that cars in the £15-25k price range continue to score well; The £5-15k bracket performs very well and is experiencing strong demand for good quality cars in good condition.
Up to £5k car settled after riding for so long.
For light commercial vehicles, members have not experienced an increase in stock, following expectations of market inflows.
The late January and early February tails were “very strong” for auctioneers, despite signs the market is now calming down.
The strongest performing sectors for LCVs are small and city vans, reflecting high levels of demand at this stage.
Demand for EVs has been “on the rise” and their value has continued to fall with some cars dropping by as much as 10% since the start of the year.
A similar trend followed in the LCV EV sector, reporting older vans with limited range capacity proving more difficult to move.
National Association of Motor Auctions (NAME) spokesman Paul Hill, said: “It is very positive to see the market continue to perform well, improving in January and December. In March, we expect the price guide for cars to increase slightly, likely around 1%.
“Cars with more challenging conditions, especially class 4 or lower, still proved the least popular. Delivering cars in good condition remains just as important as buyers continue to seek the best quality stock for retail.”
