Skip to main content

Quick Market Update

As a whole, the market has leveled from the increases we watched late January through March. I see domestic full size SUV and "luxury" pick up trucks declining. Sports and cvt's peaked very quickly and may have already declined (Corvette as an example); however, this segment was VERY strong this year.
Camry and Prius suffer still; 09 Prius w/23K sells @ $14600. 2010 LE Camry as low as $14600. RAV, Tacoma, and Corolla all firm however. CR-V EX(L) very firm; difficult to buy at auction; 09 NAV w/19K Wednesday in CT sold at $23700. Pilot selection/#'s crossing the block are down which has pushed values up a bit. There are no more 2009 Pathfinder or XTerra rental/program units in the pipeline, so when one hits the block its near record high!
Accords, Altimas, Sonata readily available at auction; selective buying here a good opportunity even as these "discount" units butt up against very attractive new car deals.
Higher mileage (non-retail) units have backed off some, but export market very active for imports with high miles; monitor bid results and wholesale at the door here carefully.

Comments

Popular posts from this blog

Reimagining service... it's time!

I have been attending and participating in a new podcast, "Auto Transport Intel" that Jay Wertzberger produces and broadcasts with Ty Thompson. It drills in on automotive transport and is dedicated to improving the industry. A topic I explored with them recently was focused on not how to get new business as a transporter but a revealing look at some of the reasons we can't get new business. The theme was that if we look at ourselves with open eyes and ask if we feel if we're putting our best foot forward, what little things could we do to improve our professional profile... and that triggered the theme, "reimagining service". Over the next several weeks, I'll define Reimagining Service in more detail, and we will dig in on the relationships that the car auctions have with vehicle transporters. Stay tuned!

Heard around the auction block

As a college freshman, I enjoyed the mandatory Psychology 101 & 102 courses... but if I had known then that I would need to be counseling my customers now, I would have taken better notes! I'm telling you... seasoned and experienced auction pros are confused and conflicted with what is going on in this winter market and the joke is that they must need to see a "shrink". The chatter at the block is staggering! Nobody is comfortable with what they have in inventory, don't know what to add or deduct form that inventory, and aren't sure what anything is worth right now. Generally, the market is flat (if not down) and traditionally [it] should be ticking up in terms of the number of bodies in the lanes (the very best barometer). Rather, there is a noticeable number of missing buyers and that's the primary factor pushing the market index down. The question is, where are these buyers? For the balance of February... plod through your inventory and make adj...

Late Winter Market

It's not the northeast weather that is keeping the wholesale market in check, it is the overall blanket of slow retail sales at both new and used car retailers! * Subaru product is the most in demand at auction now, Hyundai another sought after product line. * Toyota shows increased prices on non-recall units, but not as strong as you might assume... more trouble ahead for the giant retailer? * The availability (or pure #'s of units) crossing the block is down at auctions overall; and the old economics 101... supply v. demand... is not at work right now. * As stated last post, large trucks are softening, luxury SUV's firm. * Honda Civic strong, Buick (yes, Buick) in demand: 2004 LeSabre LIMITED with 44K sells at an astonishing $9900. Compare that to a 58K 2004 Toyota Camry selling at $8900! Go Buick, go. * It is the economy, stupid. When it is all said, people are not grabbing out for another or new car. We are in a replacement mode at auction- that's it. Chat soon