Overview
The U.K. wholesale used market began January with a slow first week but gathered momentum as the month progressed, according to the National Association of Motor Auctions (NAMA). Overall auction volumes were below January 2024 levels, yet buyer appetite improved week by week, with confidence rising across cars, light commercial vehicles (LCVs) and electric vehicles (EVs).
EVs stood out
EVs were among the fastest movers in January. NAMA noted that well-prepared battery cars—clean, accurately graded, and supported by complete histories—sold quickly, reflecting active bidding for clearly presented, market-priced stock. While NAMA did not provide model-level details or days-to-sell, the trade’s willingness to buy the right EVs points to healthy demand.
Cars and vans
Demand for cars also built steadily through the month. In LCVs, trading started more quietly but stock availability improved as January went on. That mix—better van supply and quick turns for quality EVs—supported broadly improving conditions for sellers, even with fewer vehicles offered than a year earlier.
Why it matters
- Wholesale performance helps set pricing and stock mix for retail in the weeks ahead.
- Despite thinner supply versus 2024, buyer appetite kept desirable, well-presented vehicles moving.
- Presentation and documentation remain critical, especially for EVs where battery health and provenance drive confidence.
- NAMA characterized the market as resilient, with building confidence and sellers generally able to move stock.
January trajectory
- Week 1: Slow start after New Year.
- Mid- to late January: Momentum improved, with more active bidding and faster clearance for the right vehicles.
What NAMA did and didn’t publish
- Published: Directional read on demand across cars, EVs and LCVs; commentary that volumes lagged last year.
- Not published: Pricing data, conversion rates, days-to-sell metrics, model-level performance, or regional/channel breakdowns.
Implications for sellers
- Prioritize preparation: clean vehicles, accurate grading, and complete service/documentation.
- Price to current trade levels and highlight EV condition and battery-related information.
- For vans, expect selective demand; align spec and pricing to maintain momentum.
Outlook
NAMA’s early 2026 read suggests a constructive start to Q1: improving demand, swift sales for quality EVs, and a functioning wholesale channel despite lower year-over-year volumes. The association plans to continue monitoring conditions as the year develops.
