Brilliant presentation today from Cox Automotive Inc.'s Chief Economist, Jonathan Smoke.
>New and Used Car sales trends look solid if interest rates don't continue to rise
>The Lease over Purchase advantage is opening up again
>6-9 yr old vehicles are lacking in the market (we should build a used car factory!)
>39.5 m Used Cars (an. Sales Rate
>Our normal Spring Bounce was a Spring Thud due in large part to Tax Returns being delayed plus higher interest...
Which led to a higher than expected Summer.
>This year, we saw 11 straight weeks of Used Cars, a depreciating asset, going up instead of down!
>Best performing used cars...subcompact
And finally... Whokesale Used prices are much stronger than average.
I would love to have an hour with him...it's clear he has much more to share...solid and intriguing conversation.
Thank you, Jonathan and Cox.
#BetterTogether
