WEEKLY MARKET REPORT

Week of June 24, 2022

Based on what we are seeing in the market.

The inventory count seems to have decreased overall this week, but the number of buyers in attendance has remained consistent in the lanes. The overall market was consistent last week. However the volume segments, Compact Car and Compact Crossover, slowed down their rate of gains.

Wholesale Market +0.10%

Many of these newer used vehicles tend to be clean with low mileage. Sellers seem to be firm on their floor prices and are waiting for buyers to take interest and buy. Franchise and large independent dealers have been very competitive and are taking advantage of the opportunity to purchase inventory while rental companies seem to have taken a break and slowed down on bidding this week

Retail Market

The Used Retail Days-to-Turn Estimate continues to increase, sitting above 38 days for the first time since April.

.

Here at Car-Rac we would like to thank all the new dealers who joined us last week across North America. We would also like to thank all the bidders and buyers who are using Car-Rac as there on-demand inventory acquisitions tool.

Whether you’re looking to Buy we have over 10,000 vehicles available every day, or you’re looking to sell we will put your cars in front of over 135,000 professional buyers. Car-Rac is your end-to-end tool for inventory management. Call of email us today to get signed up.

“CAR-RAC is very easy to use because I never pay unless I sell a vehicle. The entire CAR-RAC team handles the transaction from beginning to end and I can accept, or counter all offers easily on my phone. Using CAR-RAC is highly recommended if you want to sell more cars!”

Bill Houtz, Colonial Hyundai

“It sounded too good to be true, but I sold two Lexus’ the first week of signing up, and sold close to 50 more in my first year using CAR-RAC. This has really helped me with inventory as I am not only able to sell old age units but newer and specialty cars as well.”

Shawn Gusti, Pre-owned Manager, Lexus of Richmond

“I am very pleased with how CAR-RAC has helped me sell more vehicles. I sold a 1970 Ford Mustang Shelby 350 GT for close to $50,000 on CAR-RAC! The service is simple to use and the CAR-RAC staff makes the entire transaction smooth and easy.”

Austin Van Sloten, General Manager, Auto Haus

GET IN ON THE ACTION!

804-486-4554