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Used Lots Getting the Business
Many consumers are seeking out the units to save money, and the demand – higher in July than normal – is keeping supply limited and prices up.
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AE Magazine
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SEARCHMENUSEARCHMany consumers are seeking out the units to save money, and the demand – higher in July than normal – is keeping supply limited and prices up.
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“We expect inventories to continue to normalize throughout the back half of 2021 and in the first part of 2022,” said Chris Holzshu, Lithia chief operating officer, in an earnings conference call.
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At the end of the day, success ties in very closely to growth, and a solid strategy to acquiring new business is a tool every agent should have in their belt.
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The May Retention Index showed another increase and broke yet another record, reaching 159.6 points, a 7.1 point (or 4.7%) increase from April (152.4).
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How fast automakers move vehicles from factory floors to showrooms will shape the sales story the rest of the year.
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Automakers reported impressive monthly results, showing increases that ranged from 40% to 70% compared to unit sales during the pandemic.
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Volkswagen strength driven by best-selling models; Tesla falls on price declines for its most expensive vehicles.
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New inventory is not expected to see improvement until the third quarter of this year, so values are expected to remain at elevated levels throughout the summer.
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Assumptions are a dangerous byproduct of our industry and we all need to check ourselves when it comes to stopping an idea in its tracks based on emotional biases and unsupported knee-jerk reactions.
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The Black Book April Retention Index broke yet another record, reaching 152.4 points.
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Retail inventory levels, new and used, continue to be a challenge and the limited availability of quality vehicles in the wholesale market is also proving to be a challenge for buyers.
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