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Notable recent auction sales include a 2017 Ferrari LaFerrari Aperta.
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The Estimated Average Weekly Sales Rate continues to increase and now is at 72%.
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The seasonally adjusted Retention Index went down to 185.4 points in April 2022 as high gas prices strengthen some segments and weaken others.
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The Used Retail Days-to-Turn Estimate has continued to drop over the last few weeks and remains below 36 days.
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Higher gas prices are affecting the demand for trucks and SUVs – almost all the non-luxury crossover / SUV and pickup segments of all ages are depreciating at an accelerating rate, while non-luxury car segments are appreciating.
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The Estimated Average Weekly Sales Rate decreased a little last week to 67%, with sellers holding firm to floor pricing.
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The seasonally adjusted Retention Index went down to 187.7 points in March 2022 as modified Spring arrives late.
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While there are new stories of supply chain disruptions popping up daily, it is evident that some new inventory is hitting franchise dealers’ lots as more off-lease vehicles make their way to the auction lanes.
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Franchise dealers have started noticeably competing against large independent dealers for desirable units, but rental partners have really shown their dominance in many lanes, especially for cleaner, low-mileage vehicles.
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Overall market declines continued last week, but the rate of declined lessened.
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