This week we asked Bob, "What's happening in the market and what should dealers keep in mind when using market reports right now?" His answer... "Right now, market reports could be the worst thing you could refer to.... the market report is your enemy." Keep in mind: 1. Expectations are not being met in the lanes. Sellers are not getting the money they were hoping to get and are no longer selling at 90%. We're seeing the average seller back selling around 40-50%. 2. Market reports can't report no sales. Market reports report what sells. When people aren't selling, the report can't adjust to the market. Anyone relying on market reports to buy, continue to buy at prices that are not relevant to the market. Market reports are your enemy because they can't adjust until people start selling to the market. Until then... relying on them could get you into trouble!
This week we asked Bob, "What's happening in the market and what should dealers keep in mind when using market reports right now?"
His answer... "Right now, market reports could be the worst thing you could refer to.... the market report is your enemy."
Keep in mind:
1. Expectations are not being met in the lanes.
Sellers are not getting the money they were hoping to get and are no longer selling at 90%. We're seeing the average seller back selling around 40-50%.
2. Market reports can't report no sales.
Market reports report what sells. When people aren't selling, the report can't adjust to the market. Anyone relying on market reports to buy, continue to buy at prices that are not relevant to the market.
Market reports are your enemy because they can't adjust until people start selling to the market. Until then... relying on them could get you into trouble!
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Robert Hollenshead is a serial entrepreneur, the World's Largest Automotive wholesaler (R. Hollenshead Auto Sales) and visionary behind disruptive automotive industry solutions such as:
Accu-Trade: www.accu-trade.com
Galves Market Data: https://www.galves.com/
MADE Logistics: https://made-logistics.com/
Headstart VMS, LLC: https://www.rhollensheadautosales.com/headstartvms/
MADE Financial: https://www.rhollensheadautosales.com/made-financial/
AutoMoto Social: https://www.automotosocial.com/
AutoMoto HR: https://www.automotohr.com/
WreckCheck.com: https://www.wreckcheck.com/
PuroClenz: https://puroclenz.com
Robert has been and continues to be a game-changing thought leader in the way vehicles are bought and sold today.