Black Book recently published an update to their COVID-19 Market Updates.
After weeks of high no-sales rates, this past week we started to see some small signs of improvement with some auctions around the country reporting conversion rates reaching 40% or more.
As more stay-at-home orders go into effect and dealership sales departments are required to close, the buying activity on the lanes has decreased and so have the prices according to this week’s Used Car Market Insights report from Black Book and Laura Wehunt, Vice President, Automotive Valuations.
Black Book released its Used Vehicle Retention Index for February 2020 (115.2), a +0.7 point change from January (114.5).
Compact, mid-size and full-size pickups should offer a strong growth opportunity for auto lenders looking to expand their portfolios, according to data from Black Book Lender Solutions.
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