New Car Dealer-to-Dealer Trade Prices Rise as New Car Inventory hit Record Lows
Dealer Trade Network, North America’s largest wholesale trading market of new car inventory has created and released the New Car Wholesale Monthly Trading Price Index. This index shows the average monthly pricing, relative to the vehicle’s invoice price, that dealerships were able to wholesale inventory between dealerships. In 2021 Dealer Trade Network facilitated nearly 5,400 new car wholesale trades.
The average new car wholesale trading price surged to as high as $5,494 per unit over invoice, peaking in September as new car inventory levels dipped below one million units nationally for the first time in nearly four decades.
Recommended AI News: ISG To Conduct Study On Private And Hybrid Cloud Providers
“Despite the new car inventory crunch of 2021, we have grown our wholesale trading business 72% year over year,” said Dealer Trade Network’s CEO David Kohn. “What we continue to see is that new car inventory needs to be better balanced across the country and we provide the market and platform to assist the dealership to better manage their inventory.”
Supply and demand of specific units at specific times throughout the year drove the Trade Price Index. During the past 12 months, both Cadillac Escalades and Corvette Stingrays commanded the highest over-invoice prices, while Buick Enclaves and RAM 1500s traded at the lowest below-invoice prices on the wholesale trade market.
Recommended AI News: AT&T Agrees To Microsoft Acquisition Of Xandr
[To share your insights with us, please write to email@example.com]