After assessing the latest auction data, NAMA said that it seems that a combination of self-generated franchise dealer activity has been able to absorb the growing number of nearly new vehicles as manufacturers and dealers seek to achieve ambitious volume targets.

Year on year, volumes of nearly-new vehicles coming through NAMA’s wide network of auction centres were broadly in line with the activity in the corresponding 2014 period. In terms of average of vehicles in the new – 2.5 year category coming to market, the age actually increased slightly.

Paul Hill NAMA’s chairman said that it appears that pre-registration vehicles are remaining within the franchised network.

He commented: “It seems that for now franchised dealers have been able to absorb the increasing volumes of pre-registered stock that we understand are a growing feature of the market. With retail sales growth for new cars at a little over 3%, it seems likely that dealers are successfully retailing used stock through, potentially helped by the availability and price of finance. The demand from consumers is there and the value proposition of a pre-registered car with low rate finance is a compelling one.”