Thursday, 03 December 2020 18:09

COVID-19, Thanksgiving Combine for Softening Trends in Wholesale, Retail Used Auto Sales

Written by Auto Remarketing Staff


...their values soften for 14 consecutive weeks with the same average analysts pegged for sub-compact cars (0.71%.)


Furthermore, values for small pickups is in the midst of quite a decline streak, too. Analysts said values for small pickups started to drop 13 weeks ago by an average of 0.51% per week. 


“Supply has increased in recent years after Ford and GM returned to the segment, and this increase in supply, coupled with low fuel prices, is pushing prices lower week-after-week,” Black Book said.


Two other tidbits from the latest COVID-19 Market Insights might interest dealers.


“As we head into the holiday buying season, many consumers are turning to online purchasing. This increase in digital purchasing is putting a strain on delivery companies when it comes to finding enough delivery vans, both new and used, to keep up with the increase in deliveries,” Black Book said. 


Analysts also added, “You could see fewer Cadillac dealerships around the country in the future. As Cadillac makes their push toward EVs, they are giving dealers a buyout option to give up the Cadillac brand and avoid completing the necessary upgrades and training to become a Cadillac EV dealer.”


We thank Auto Remarketing for reprint permission.

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