The wholesale marketplace is a very fluid animal. It has a life of its own, ebbing and flowing weekly. The free flowing nature of shifting supply and demand in the wholesale market makes it a great fit for the competitive bidding environment of the auction.
The dramatic upswing in demand over the past two weeks is something I frankly did not see coming.
"Tax Season," while late in arriving, is certainly here and the car market is on fire! DAA Northwest experienced at 77% sale this week. 1100 sold on 1425 consigned! We have never experienced that kind of conversion rate on that large of volume. Thank you to Kenny Shoemake and Josh Dykes who partnered-up and supported DAA's November charity efforts to produce our Wednesday night FebFest promo.
While predicting or anticipating the market is more art than science (not to mention impossible) I can say that what we are experiencing right now is not long-lived, nor is it sustainable. The same overriding factors that existed in the marketplace during January and early February still exist today. Strong volumes and emphasis on new car sales, increasing incentives by manufacturers to gain market share, and increasing lease returns all point to augmented availability of used vehicles in the market. Over the course of this year and as momentum builds into next year, supply will continue to increase and the market will continue to stabilize. This is good news in the long run for us all. In the meantime, let's all make hay in the sunshine!
Remember, we are your partner through both good times and not-so-good times. We appreciate the confidence you place with us each week and we strive to always meet and exceed your expectations.
See you next week in the lanes at DAA Northwest and DAA Seattle.
Quote of the Week:
"When it's good, it always gets bad; when its bad, it always gets good again." - Yours Truly
DEALERS: Join us at DAA Northwest
in Spokane every Thursday at 9:00 a.m.
Next Promotional Event:
DAA After Dark - March 12th & 13th
Call DAA Northwest Sales for more info: 509.244.4500
3130 D Street SE | Auburn, WA 98002 | Phone: 253.737.2200 | Fax: 253.737.2201