There is a lot of news and interest these days surrounding the used vehicle market. Many analysts and industry leaders are surprised by the spike in used car sales and demand, which means many dealers were unprepared for it and didn’t stock their lots accordingly.
“We didn’t call it, not did we expect it,” said one J.P. Morgan analyst in a recent Barron’s Daily article.
But we did.
We carefully considered the tangible and intangible factors at work amidst the pandemic and the market conditions leading up to it, and offered guidance to dealers to prepare with aggressive inventory management strategies and adopt an optimistic perspective. Here is our OpEd in Wards in early May (also ran in Automotive News in mid May).
Check out the recent story in Barron’s, Used Car Prices Hit a Record During a Pandemic. Yes, You Read That Right., and let us know what you think. How are you affected? What is the impact on your used vehicle sales? How are you managing your inventory to meet demand? We want to hear from you!