Car retailers’ used car forecourts are unlikely to benefit from “significant volumes” of additional stock as a result of the sector’s seasonal September sales boost.
The National Association of Motor Auctions’ (NAMA) informed a meeting of members not to expect a sizable boost in inventory as a result of a numberplate change month tempered by ongoing supply issues.
However, it said that wholesale prices had risen during September and suggested that consumers’ appetite for certain vehicles remained strong.
The industry body said in a statement its members had not seen an influx of stock as a result of Septmebr sales activity, adding that it was not expected that it would “provide significant volumes into the market”.
“On a positive note, the wholesale market value is up 0.1% in September in comparison to August,” NAMA said, adding: “Particularly good results are being recorded in used cars between the ages of three to five, experiencing high demand from consumers.”
According to NAMA, over the last four weeks of trading the retail market reported fall in demand from consumers, in comparison to the previous four.
It said that the well-documented issues relating to supply, driving the value of used car values up, has maintained this level and appears to be steady.
NAMA members have highlighted how independent buyers continue to target good condition and high-quality LCVs, meanwhile. NAMA said: “Overall, values are expected to fall over the coming months, but nothing to be concerned about.”
NAMA’s Paul Hall said: “As the summer months draw to a close, NAMA members are reporting a stable market. Demand has fallen slightly which may be attributed to external pressures influencing consumer buying trends, but this falls in line with expectation.
“As a whole, however, there are enough buyers out there interested in buying stock.”