What did we learn in 2023?

An Automotive Lesson

Now that we’ve closed the retail automotive books in 2023, let’s take a step back and look at what we learned that will help us grow more efficiently and consistently in 2024.

The first thing that comes to mind for 2024 is the nonsensical behavior of used car valuations. I have worked with dealers of all sizes on market and inventory strategy since 2016 and I have not seen this type of unpredictable behavior in that time. For example, twice in 2023, the used car acquisition values grew at times they historically do not and conversely the values dropped significantly in times that were not seen before. Mistakes might have been made if you weren’t watching that valuation curve weekly.

The second thing to notice was the retail transaction……READ MORE.