Fall’s arrival appears to be bringing welcomed relief for independent dealerships looking to build their inventory. Black Book explained why through its latest COVID-19 Market Insights released on Tuesday.
Analysts recapped in the report, “This past week, we saw more independents being the successful bidder. This is a welcome sight as we’ve talked to so many buyers that struggled over the summer to compete with the money the larger buyers were willing to spend to secure inventory.”
Not only are those larger buyers such as CarMax and Carvana easing back, Black Book is seeing that independent stores and dealerships in general aren’t having to dip into the floorplan funds as much for wholesale units.
According to volume-weighted data, analysts determined that overall car segment values decreased 0.66% over the last week. That decline nearly doubled the figure Black Book recorded during the prior week when car