March 2020 Automotive Market Update

A quick recap of industry-related headlines over the last month:

  • The market experienced record-breaking price increases this past week, as the supply and demand imbalance continued to drive up wholesale prices.
    • We have been tracking these week-over-week price changes since 2009 and last week’s overall increase of 1.49% was larger than the previously held record of 1.46% from the week ending July 25th of last year.
  • The imbalance of supply and demand in the market right now is continuing to push up the conversion rates, especially as available wholesale inventory each week tracks lower.
  • Days-to-turn have been increasing since November and are approaching the historic average level. Recently, the trend is starting to show signs of reversing as retail demand picks up across the country as a result of tax returns and the additional round of $1,400 stimulus checks being deposited into consumers’ bank accounts.