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Car auction firms believe that values for used petrol and diesel cars will remain strong or could increase, despite a decline in the used car market.
Motor auction members of the National Association of Motor Auctions (NAMA) have told the trade body that internal combustion engine vehicle values have held steady during the recent lockdown in the United Kingdom.
In a recent survey it found that 90% of respondents believe both petrol and diesel values would remain strong or further increase. Auctioneers also say first time conversion rates are performing well, with 67% expecting rates to increase over the next month, with the remaining 33% expecting them to stay the same.