Used Car Demand Increasing?

Derrick Woolfson

The Used Car Demand is increasing, why? This is good though for dealers whose OEM's are struggling to meet their objectives and are not offering enough incentives to make it worth the dealer losing $2,300+ a copy. Thoughts?

http://www.autonews.com/article/20180820/RETAIL04/180829949/used-vehicle-prices-united-states

 

Chris K

What idiot dealer is losing $2, 300 a copy?

Derrick Woolfson

On a new car sale? It happens more than you think. If used car sales are more in demand I can help off set loss on new car sales. 

Chris K Leslie

We are certainly seeing a higher increase in used car interest. Specifically certified used cars. We aren’t losing $2,300 a copy either. But, we might probably aren’t the norm either. 

Derrick Woolfson

@Chris, got it - yeah, I think it depends on OEM and demographic. The DMV triangle is the *worst* when it comes to pricing. You have dealers that are readily willing to take a $3,500 loser on their inventory. Making it very hard to compete. 

Not sure if the demand is really increasing, simply because nearly every dealership I've worked at or worked with has, for the most part, always sold more used vehicles than new.

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