January 19, 2019
Three weeks into the New Year and what have we discovered? Interestingly – and I believe significant – is the fact that the market is behaving identically to what we experienced a year ago as we entered 2018. Nationally, cars and trucks underwent some significant depreciation through the fourth quarter and have not rebounded as we entered the New Year. Used car sales are just OK and there are a lot of nice cars currently in the supply chain.
The Pacific Northwest, in particular, has been very truck-dominant for several years. Trucks currently are slow at retail and are backing up in the wholesale channel (just like last year). Supply and demand are what drives the market. The supply of cars and trade-ins is healthy relative to demand and the truck supply is overpopulated relative to demand. As we have experienced time and time again, this can right itself very quickly when demand kicks in, and I am optimistic that this will be the case as we enter mid-February and beyond (again, just like last year). There are a lot of nice trucks in the market right now, priced at levels that would be considered absolute steals 90 days ago.
DAA Northwest will offer over 3500 units this week during its first major promotion of 2019: Jackpot January. We will feature a diversified mix of cars, CUVs and SUVs and our offering of nice trucks and good prices will be second to none. Join us Wednesday at 2:00 PM for 1000 national account and select dealer consignment units. Following the sale, we’ll get together at Northern Quest for Casino Night, and Thursday morning at 9:00, we’ll round-out the two-day event with 2500 cars, trucks, and MotorSports units.
DAA Seattle now consistently offers 800-900 units every week. It is the hottest “little” sale in the west, and it is the place to be on Friday!
Thanks to all of you who are part of the DAA family. Thank you for supporting our efforts as we do our best to support yours and earn your business every week.
See you in the lanes and online this week!