The report shows that during June the average values of used cars sold at auction across the board decreased from £4.675 to £4,575, equivalent to a two per cent decrease between May and June.
While the manufacturer/rental market recorded a decrease in values of six per cent, the fleet and dealer part exchange sectors, which accounts for 90 per cent of sales, prices remained more stable up one per cent and down two per cent respectively.
However, NAMA warned that despite a significant decrease in manufacturer/rental prices of six per cent, the figures are influenced by low volumes and an ever changing model and brand mix.
NAMA chairman, Andrew Hulme, said: ‘All the market, price and key performance indicators confirm that June was a steady, stable and in context, better than expected month of trading. Overall prices reduced by a modest £100 and days to sale remained unchanged at 8.7 days.’
The report also shows that the fleet sector continues to improve in values achieved as a consequence of the generally low new car sales since 2008.
Hulme added: ‘NAMA believes that the auction market is now entering a settled phase with supply and demand broadly in balance. Supply will decrease slightly between now and mid September, and if the market experiences the normal seasonal level of low retail demand, prices are unlikely to change significantly in the next four to six weeks.
‘The next anticipated material change to market conditions will arise in the second half of September as supply from the Plate change and post Olympic defleets enter the market.’