Then they stopped, then they come back up, and then we’re our waves are much longer and more exaggerated than they happened in the past. So I think that’s probably a lot of what we’re seeing is just seeing a lot of factors behind the scenes, kind of course, correcting a little bit, which we’ve seen very, you know, a few times during the pandemic as we watched these values just gradually go down. Otherwise they’re lending money, you know, crazy money on cars that they probably shouldn’t be. But I think the market, the banks, the the valuation tools just have to do this course correction every so often. You know, we have all these factors that should be continuing to drive used car prices up. So we’re I’m hoping we’re kind of coming to that point, and a lot of it doesn’t make a lot of sense really behind the scenes when you look at it, because inventory levels have never been lower, new cars still aren’t hitting the lot. We’re acquiring inventory and really kind of plan for what essentially could be another drop.Īnd the reason I tell them to forecast a little bit further when they’re doing that now is because we’ve seen these massive drops, but then we’ll see the market kind of level out and then we’ll start to see a resurge again. We really need to look at this more of like a41 case situation and and really start to project out 90 days or 120 days. And even while the last couple of months, we’ve seen a lot of a lot of decline starting in the middle of the year, May-June, June, we started seeing this trend and, you know, going back and reviewing some of those you know, those drops with dealers, some of them have been pretty significant, you know, to the tune of you know, five, six, seven, eight, $10,000 in the last few months.Īnd so, you know, I’ve kind of worked with dealers to just give them a little insight, to say, look, we can’t really acquire cars right now based on kind of a day trader status. Yeah, it’s been obviously it’s been a while, a couple of years. Power and and what’s going on in the market with that? What is what is your perception of the steep decline on J.D. September was a little bit of a wake wake up call for some guys and the guys that had a little bit of insight, they weren’t so shocked because they knew what was coming.īut let’s talk about that a little bit. So as I’m sure yourself as well as all the dealers on on dealers link are aware. So our main topic today and what we’re going to talk about really is we’re going to talk about wholesale market and kind of what’s going on in the industry right now. Or at least she smelled really good, right?Īll right. They knew that some beautiful woman owned it. But once everybody got in the car, they knew that. I tried to make it as masculine as possible. Did you have the pink fuzzy dice in the mirror to go with the perfume, too? That was my first ride.Īll right, all right. It took two bottles of polo to get the smell. It was, I call it a chick car because it was so saturated with women’s perfume. I drove a 1987 Toyota Celica with the headlights that flip up bright red. So my first car, most people’s first car was a chick magnet. So we’d like to start as I’m sure we’d like to start by asking everybody, what’s the first car that you had? What what was that? That piece of metal that you were driving around when you were 16? Today, I’m joined with Garrett Smith, track star consulting extraordinaire. Well, we are back for another episode of Dashboard Dialogs. In this Episode our host Jake Silveira discusses with dealer consultant Garrett Smith about the wholesale market, September Blue Book value drops, optimistic outlooks and what is the best cologne, Polo or Old Spice?Īll right.
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