October 24, 2016
The wholesale car market continues to “adjust” as we move through the month of October.
Heavy rains have soaked the region of late and may have had a direct effect on retail traffic, but for whatever reason, retail seems to have slowed. Even though DAA’s Moose Sales in Seattle and Spokane over the past two weeks were productive, buyers were less aggressive, and much more selective. The lanes were full, the activity was just off…more so than we’ve experienced in a long time. That being said, sales percentages remained well above 50%, with Seattle selling at 59% last week.
Volume sellers are adjusting their sights and doing their best to meet the market where it is in order to get deals done. I believe that we are not in any kind of a dramatic market shift, just a typical and slightly painful fall market adjustment. Trucks have cooled, imports are actually selling very well, and it even seems like the overall passenger car market is holding up well.
The high volume of trucks that have been supported consistently for so long in the market are really the main thing being affected right now. In spite of it all, DAA Northwest’s Moose Sale this past week still sold 1600 of 2900 units for a 55% sale. That is hardly a market collapse!!
Thank you for supporting us! We love what we do and we take our role in your business success very seriously.
See you in the lanes this week!
Quote of the week: “Choose a job that you love, and you will never have to work a day in your life.” – Confucius