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In 2013 NAMA launched its used vehicle assessment in the UK which aims to provide a standard of vehicle condition for dealers to purchase cars without being seen.
It is designed to facilitate the process of buying and selling used vehicles in conditions that are better understood by both parties.
With a better understanding of vehicle conditions, buyers and sellers can now more accurately anticipate market selling prices.
To date more than 10 million vehicles have been appraised by the scheme. NAMA stated that 90% of used vehicles were sold through auctions using this scheme.
The King’s Award for Enterprise is highly coveted with only 200 initiatives presented for consideration each year.
The award will be presented by His Excellency Lieutenant Lord for Greater London to the executive board of NAMA at its headquarters on Great Portland Street in London.
This will be followed by a laureate reception hosted by King Charles III at Buckingham Palace planned for the summer.
NAMA Chairman Andrew Walker said: “It is a great honor to receive the King’s Award for Enterprise and tremendous recognition for the contributions our members have made and continue to make to the development and maintenance of the used vehicle appraisal scheme.
“It took four years to bring the scheme to market and another two years to establish the training module and professional qualifications which are now held by over 1,000 vehicle assessors across the UK.
This year will see even more exciting developments with schemes constantly evolving to meet the ever-changing needs of the motorcycle industry.”
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