As July comes to an end and we enter the month of August, the market seems to be a bit lethargic. The oppressive local heat wave may be a factor that is affecting retail traffic and car sales. Buyers are becoming more selective. There are many units that simply are being ignored in the lanes, while the “right” cars and trucks are as strong as ever. Although the market reports reflect what cars and trucks bring each week, they are not a true reflection of activity. One really needs to attend the auction to get an accurate pulse of demand and market strength.
Volumes at auction continue to be on the rise. With more volume comes more nice cars. This is great news for everyone. What we all need to realize is the high mileage and rougher, ill equipped units are getting cheaper. These units have got be priced very aggressively to get attention in the lanes.
My feeling is that the market will remain fairly consistent in the upcoming weeks. Rental cars have actually been selling very well, and will continue to enter the market.
Enjoy what remains of our glorious summer and don’t forget to spend a day or two a week with us in the lanes.
- Bob McConkey