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Report Uncovers $4.7B Opportunity for Auto Dealers
Solving mismatched payment quotes can boost sales, profits
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SEARCHMENUSEARCHSolving mismatched payment quotes can boost sales, profits
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2021 was a wild ride, but according to Black Book, the final two weeks of the year reported minimal declines in values after a year of record-breaking increases.
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It’s easier than ever to get credit, if you can find a vehicle, says Andy Mayers of Cox Automotive.
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Dealers are investing in older, used, high-mileage inventory, and they are also retaining vehicles taken on trade which would have previously gone to auction.
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Full-year 2021 auto sales in the U.S. are forecast by Cox Automotive to finish near 14.9 million units, an increase of approximately 2.5% from 14.5 million in 2020.
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Record high used car prices will deflate. The question is how fast the bubble will burst.
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Winter and Christmas sales events make for a busy end of year for dealers, but the last two weeks of the year are traditionally slow for the auctions and that held true this year.
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So far the omicron variant has not impacted consumer sentiment or economic activity but creates some uncertainty as winter begins.
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As calendar year 2021 comes to a close, wholesale prices continue to rise, and noticeable differences can be seen compared to prior calendar years.
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Edmunds predicts 15.2 million new cars sales in 2022, a 1.2% increase from its 2021 vehicle sales estimate.
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The J.D. Power Valuation Services Used Vehicle Price Index reached an all-time high in November.
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