The National Association of Motor Auction’s (NAMA) has revealed its new strategy, which includes new work on electric vehicles and increased focus on LCVs.

NAMA chairman Andrew Walker

Revealed as newly appointed chairman Andrew Walker praised members from the vehicle remarketing sector for their outstanding efforts during the Covid-19 pandemic, the new plans see alternative fuels and EVs play an integral role as the move to zero emissions rolls out in the used vehicle market.

NAMA’s vehicle grading teams are already looking at the specific issues surrounding such vehicles and the subsequent impacts on residual values that may arise.

This will include sharing best practices with other vehicle remarketing associations across the globe on the same challenges. NAMA’s worldwide sister trade bodies include the National Auto Auction Association (NAAA) in the USA, the Car Remarketing Association Europe (CARA) and the Auctioneers and Valuers Association of Australia (AVAA).

Walker said: “We can share industry issues that affect our various markets and learn from each other, which at this time of colossal change will be highly valuable to all vehicle remarketing companies both physical and online. We are also talking to associations in Japan and the Middle East, markets where I have personal experience.”

NAMA will also explore wider environmental and sustainability issues through its own forums as well as cyber security and codes of conduct. The work also includes investigating the feasibility of extending its vehicle grading scheme to include LCVs by the end of 2022.

As well as looking forward, Walker paid tribute to the UK remarketing industry for keeping the used market moving despite everything the Covid-19 pandemic threw at it.

Following the national six-week lockdown, members quickly utilised their online bidding systems to open the used vehicle market for both buyers and sellers, with business conducted under the government guidelines. The cashflow generated was a lifeline to many of members’ customers.

As well as supporting and energising the used vehicle market, many members utilised their logistics, vehicle de-fleet and refurbishment centres to prepare and move vehicles around the UK for companies supporting the country’s infrastructure.

“Our members helped keep all the key industries and workers mobile, including doctors and nurses, by storing, preparing and transporting vehicles nationwide often under very demanding working conditions,” said Walker.

He added: “Our members should be justifiably proud of their outstanding efforts during the pandemic. I for one will never forget that period where our businesses stood together as an industry with great comradery. As we exit these challenging times, we begin a new era where members are expanding their businesses in exciting new ways – growing their knowledge and introducing ever-increasing standards to meet the challenges of an evolving 21st century used vehicle market.”