Read what we learned during Q2 below:
- Insight: Total number of vehicles sold spiked in May, but dipped down in June.
- Action: Given rising supplies, dealers should throttle back on acquisitions, particularly from auctions, unless there’s a clear and present need for vehicles you can’t source from other more cost-favorable channels.
- Insight: Throughout Q2, days’ supply increased each month.
- Action: Aim for a better balance between current stock and your rolling 30-day total of retail sales, and moving out distressed inventory, even if it’s sometimes painful, because the vehicles aren’t going to get better over time as retail and wholesale prices continue to diminish.
- Insight: The average listing price took a dip during June.
- Action: Lean on live market data to understand vehicles that have less retail risk and price sensitivity, so they can price them to optimize their profit or ROI potential.
- Insight: Throughout Q2, average trade-in equity decreased each month.
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