SMA Off to a Flying Start

'Buyer demand for used cars is very high'. This is the conclusion from SMA Managing Director Bob Anderson, with week one of the New Year delivering record sales performance and very high conversion levels.

SMA's Leeds centre delivered an all-time record high level of sales and the situation group-wide was very strong both at the Group's auction centres and online.

"We started the year very optimistically with a series of new vendors and additional financial stocking support available for our buyers at our newly opened on-site stock funding offices. The actual performance surpassed our expectations.

"Buyer demand for used cars is very strong and demand for quality LCVs appears to be exceeding supply. The hot competition certainly saw some very robust prices being achieved." Noted SMA's Managing Director Bob Anderson.

The new stock funding offices, which are now open at all SMA centres, have seen very brisk activity, with a strong level of interest from buyers creating a steady queue of one to one discussions as buyers seek to increase stock levels to meet consumer demand. Having opened in December, the link between new stock funding lines and record sales is a strong indication that this latest innovation is meeting a very real demand from buyers.

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Our grading system is changing

NAMA grading has been developed to provide a long awaited industry standard grading scheme to be used across all auctions within the UK.

We have now introduced NAMA grading across our sites, and over the coming weeks you will notice more vehicles being offered for sale displaying a NAMA grade. These grades are easy to identify as they are 1,2,3,4,5 and U in place of the SMA grades A,B,C,D and E.

Please make sure you have familiarised yourself with the grades. We will still produce condition reports providing additional information for each vehicle as we always have.