Hottest Year for Used Sales in More than a Decade
2. As average margins narrowed, so too has the range of grosses on individual transactions for individual dealers. Lacking “home-run” (high-gross) deals, dealers can now ill afford the outsized losses associated with buying the wrong car at the wrong price. So, for commercial consignors, who often benefited from that one dealer paying too much in a speculative bid, the need of getting their portfolio in front of right buyer — the first time — takes on added importance
The aforementioned gain in same-store used retail unit volume is based on a weighted average for CarMax, AutoNation, Penske, Sonic, Group 1, Asbury and Lithia. CarMax’s results are shifted one month ahead to correspond with the calendar quarter, Webb’s blog noted.
To read Webb’s entire blog entry, visit:
Editor's Note: This story ran in the June 1–15 issue of Auto Remarketing, which featured our Used-Car Progress Report. Check out the issue for more on auction prices, off-lease supply and more. Staff Writers Sarah Rubenoff and Nick Zulovich contributed to this story.