Broomfield, CO, USA – October 8, 2020 – DealersLink was one of the only inventory management platforms to rapidly adjust to NADA’s on-the-fly change of September book values, providing its dealers stability in an otherwise volatile situation.
The wholesale car market has seen unprecedented surges in volume and pricing since April, and with Hurricane Laura causing volatility in the Southeast, valuation guides like NADA have made last minute adjustments mid-month, trying to keep up.
Many inventory management vendors did not make these updates per NADA instructions, which caused confusion among dealers, lenders, auctions and private parties. DealersLink recommended dealers ask their vendors to do a NADA audit to ensure accuracy.
DealersLink recently added the capability to display weekly updates to NADA values, always giving its users the most current values in the industry.
“We’ve been really happy with our dealers’ response to our valuation tools in this unprecedented time. It’s been great to be able to work quickly with our partners like NADA to stay on top of a fast-moving market and give our dealers the confidence they need to be successful,” said DealersLink Dealer Services Director, Devon Peterson.
Wholesale vehicle sales volume experienced a short dip in the last few weeks, before bouncing back up, though still off their highs reached in late June and early July. Auction prices are trending downward over the last two weeks, though still higher than the 90-day moving average.
“Despite a slowing used car market, wholesale prices remain strong. Prices are expected to continue to move lower through October and November however as pent up demand has been satisfied and pandemic-related macro-economic headwinds increase. By year’s end prices are still expected to be greater than pre-covid levels,” said J.D. Power.
DealersLink continues to work closely with NADA and other vehicle value providers, reacting quickly to volatile market conditions with rapid updates and adjustments.
DealersLink® has been eliminating wholesale transaction fees for 15 years with over $1 billion in used inventory available to dealer members 24/7. Members use the marketplace daily to stock their lots with clean reconditioned units, locate hard to find vehicles for their customers, sell inventory without incurring wholesale losses. DealersLink® also provides industry-leading evaluation, pricing, inventory management and analytics.
Visit www.DealersLink.com for more.