PRE OWNED VEHICLE MARKETING
THE SITUATION:
Prices of Used or Pre-owned vehicles Not Going Down;
Holding Original Value or Going Up over time
Inventory crunch has occurred as demand for pre-owned vehicles rises;
Scarcity of Pre-owned vehicle drive up prices;
Buyers are getting more for their trade-ins; Paying more for next purchase;
SOLUTIONS [ Or Effect of Market Demand]
Created a ripple effect, giving consumers more trade in but higher replacement cost
Production of new vehicles expected to increase in 2022;
Vehicles will return to being a natural depreciating asset
Auto execs & dealers seek to leverage max return in face of COVID
STATS:
Traditional first year loss of value goes from 33% to 14 %;
SOURCE
WSJ 02 12 22 – “Why Your Car Might Be Worth More Today Than When You Bought It”
https://www.wsj.com/articles/why-the-car-in-your-garage-may-be-gaining-value-11644575402
