GAINESVILLE, GA - New cars sales strength can have a number of effects on the used-vehicle wholesale market. Great retail for new vehicles will undoubtedly bring in more trades, which could ultimately be the next retail piece that doesn’t have to be purchased at an auction. At the same time it might be just the right wholesale piece to take to an auction for some lively competitive bidding.
View this weeks video below:
"As we looked at the comments from the Black Book survey personnel from this past week’s auction reports, there was less of a consistent pattern in what was taking place in the lanes than we have seen and heard in several months," according to Ricky Beggs, VP and managing editor for Black Book in his Dec. 17 Beggs on the Market Report. "During the first half of the week, the primary comments were touting the upbeat attitudes of both buyers and sellers. As there were multiple reports of 'more buyers than sellers,' this supported the fact that prices were at least holding and that demand was up as described by 'money was looser.' "
One slight change from the previous several weeks of auction activity was the interest being exhibited toward some of the 2012 models, according to Black Book. "I was less surprised at the strong interest in clean, lower mileage cars and trucks and also the increased interest in this type unit from the internet buyers," Beggs noted. "We generally expect this really nice unit to bring out the internet buyer but this probably was driven even more so from the northeast market buyers reaching further out to find the right desperately needed inventory."
This week, Beggs intentionally left out the random numbers of adjustments, segment changes, and various trends that picture the market activity. "Sometimes, just hearing the actual comments and seeing the reaction of the buyers in the lanes and the sellers on the block truly tells the story of the current market conditions," Beggs noted.
If you just have to see some of the numbers from this past week’s editor changes, click here, then click on the “see the graphs” for the supporting data to this past week’s market.