by Jon LeSage, editor, Used Car Market Reports
Looking at coverage remarketing trends from this week’s Used Car Market Reports……
- Do wholesale and retail used vehicle prices have the same effect on dealers and remarketers as they did 10 years ago? It appears that even if prices decline, as Tom Kontos predicts, other market factors could make up for it.
- One of those being overall volume of used vehicle sales and another being diversity of product for resale and different channels to remarket through.
- As Kontos says, there will be an increase of availability and selection of used vehicles for dealers.
- For example – perhaps used small and midsize cars could be strong in certain parts of the country as certified pre-owned units. They might have been soft in wholesale markets but can be turned around in retail targeted at niche markets.
- NADA Used Car Guide saw the overall decline in compact car prices ease in August.
- Volume of sales is strong – retail used vehicle sales were up nearly 5% last and CPO sales up 25% over a year ago. Maybe the margins were thinner, but dealer profits are gaining from strong sales volume.
- Pickup trucks are doing very well in new and used sales – tied into economic growth and return of business in the construction trade.
- ExperianAutomotive’s AutoCheck vehicle history reports are now available on Kelley Blue Book’s KARPOWER Online. Things have changed for Carfax and Polk this year – and it now has new completion from Experian and KBB.
