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Scott Johnson | Online Sales Manager | 757-645-6362 or sjohnson@car-rac.com

Jacquelyn Smith | Online Sales Administrator | 804-486-4554 or jsmith@richmondaa.com


WEEKLY MARKET REPORT

JUNE 16, 2021

Despite the limited inventory on dealer lots, dealer lanes continue to have higher volume at auction, Many dealers are finding higher profit margins in the wholesale channel as opposed to their own retail lots. Dealers have found creative ways to diversify their source of inventory, and their innovation is paying off.


With so many newer used units selling at or above their respective new MSRP, it was another strong week for wholesale values, which makes it 20-consecutive weeks of gains.
On a volume-weighted basis, the overall Car segment continued its 20-week trend, increasing this week by 0.96%. For reference, the previous weeks increase was 0.79%.


Used Retail
Current used retail listing volume is about 11% below the start of the year. The inventory levels have been slowly but consistently increasing over the last 7 weeks as we see some softening of demand.
Days-to-turn has continued to decrease since the middle of March as sourcing both new and used inventory continues to be a challenge; it now stands around 31 days, lower than we have seen in the recent past.


Wholesale
Although floor pricing remains strong and the availability of average and clean vehicles remains scarce, conversion rates have been consistently increasing since mid-May.  Many dealers are finding higher profit margins in the wholesale channel as opposed to their own retail lots. Dealers have found creative ways to diversify their source of inventory, and their innovation is paying off.