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Auction companies are predicting that values for used petrol and diesel cars will remain strong as the country emerges from lockdown and consumer confidence improves.
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The National Association of Motor Auctions (NAMA) has said that first-time conversion rates are set to rise as used car demand increases with the easing of COVID-19 lockdown restrictions.
While physical auctions remain closed to traders during ‘Lockdown 3’ head of NAMA, Louise Wallis, said that sales activity is already on the rise as car dealers begin to stock their forecourts ahead of the arrival of demand pent-up over recent months.
Wallis said: “The latest NAMA survey shows strong demand from dealers for forecourt stock. This is due to an expected rise in consumer sales post-lockdown. The auction market is expected to remain strong over the next few months to fulfil this demand.