Kerrigan Advisors have reported that the dealership buy/sell market has continued to soar in the final quarter of 2020, putting it on track to surpass record transaction numbers from 2015. With the increase in dealership transactions, values of used vehicles have reached unprecedented levels as well.
Despite periods of retail disruption relating to the pandemic, 2020 still achieved the highest level of transaction activity since 2015. A trend experts expect to continue throughout 2021. The resilience of auto sales in the face of the pandemic continues to drive high valuations.
Auto retail sales are expected to outpace the country's economic growth, especially considering the pandemic's effect on urbanization, public transport, and ride-shares, leading to more people purchasing personal vehicles.
With a surge of car shoppers, it is imperative for dealerships to maintain their used vehicle inventory. With tools such as Acquisition Plus from Dixon Technologies, dealers can easily navigate the increased prices and skip high auction costs by connecting directly with private sellers that have the inventory that will move. Additionally, Recon Plus can help dealers streamline their vehicle reconditioning processes and keep inventory on the lot where it belongs.
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