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Greg's Auction Update
Time flies! We are already one month into 2012 and the results for January are in. It would be hard to identify any clear trends based on what we have seen so far but a few things do seem to be coming into focus:
1. Late model used prices are such that many of the retail buyers are leaning toward a new car purchase.
2. Consumers are still moving carefully – this could be a product of good fiscal discipline or a product of the lending markets – or both …?
3. Business and commercial fleet managers are back in the game – the fleets that have aged are being updated.
4. The wild fire low priced market that results from tax return cash hitting the streets has not kicked in yet (maybe starting now?) and most of the savvy retailers that cater to this segment are ready with ample inventory.
All in all, it seems like a stable outlook and we are fortunate to have a dynamic market here each week (winter weather notwithstanding!). Late model used buying is selective; lower priced vehicles are in high demand and spring is not too far off.
We are looking forward to getting the promotional season underway in a few weeks when we host DAA After Dark. If you need some excitement, a party and promotional sale in the meantime, please consider joining us for our 1st Anniversary in El Paso on February 7th and 8th – good times at THE Rosa’s Cantina and a great sale in the sunshine!
Thanks for your support – we’ll see you in the lanes!
Greg Mahugh
VP, General Manager
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