Better-than-normal sales conversions are continuing into early March, according to Ricky Beggs, vice president and managing editor of "Black Book."
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As Black Book staff attended the auctions, talked with many dealers, and looked at the commentary from the Black Book survey personnel, there were three main topics of interest that kept coming up (in no particular order): a strong market, the current tax season, and the rapidly climbing gas prices.
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There continues to be much talk on the auction lanes regarding the “spring market” and this being “tax time," with several dealers saying anxious buyers are now coming in with checks in hand.
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January is now in the pages of history and the market results were slightly different from what was traditionally expected, according to Black Book.
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The numbers out of the used wholesale activity during the past week seem to have indicated hesitancy in the buyers to build retail inventory from the auction lanes.
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Now that most everyone has gotten back into a more businesslike routine after the holidays, the market in most of the Black Book survey personnel and auction reports was represented as steady and with prices flat.
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GAINSEVILLE, GA - Even though the New Year holiday eliminated or moved some auctions to a different day and/or time this past week, most had low consignment and conversion percentages that were lower than the previous few weeks.
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GAINESVILLE, GA - The strong used-vehicle demand and activity that began the second week of November has continued throughout December and continues to be driven by the strong demand to replace the damaged and destroyed vehicles of Hurricane Sandy.
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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.
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GAINESVILLE, GA - Over the last few years, many of us in the industry have said we are not in a "normal market." This has referenced supplies, value trends that have seen both up and down movements, and some of those trends do not match the more historical patterns.
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