Used car inventory levels

Bart Wilson

What percentage are you running right now vs pre-COVID?  How has your days supply changed?

Chris K Leslie

We are still doing pretty good considering we are only getting trades. 

Allen Turner

Our low point was end of March, at about 35% of normal sales. Now our new is close to normal, used still off about 40%

Mark Rask

Hopefully this will level off

Morgan Hardy

We are only taking trades. We're not buying vehicles or getting in additional new car inventory.

Dan Knoblock

In my opinion values will be up and down over the next year or so. That’s what will be consistent during the COVID issue. The Manufacturer must help maintain their residual values and will be forced to stream line their days supply to benefit their brand. Consumers being hit hard by the pandemic they will turn to used vehicles and that supply will drive prices up. What will plummet will be your older higher mileage trades that no one wants. The auctions will continue to struggle with the bricks and mortar model as we move forward and until they get extremely aggressive and invest more into their digital platforms, be careful in what you know you can sell and what you cannot. Depending where your business is and how you are affected I recommend from both new and used to bring your stocking levels down 25% of what you might normally carry. That will also help create profitability with supply and demand. Best of luck to all as there is no real answer as all of us have been affected differently. One thing for sure, keep more of a personal touch with customers and shed dead weight expenses where you can. We will get through this and will become even stronger.

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