Market Conditions Commentary (Archive 2011-May)
With nearly 40 years in the wholesale automobile business, our founder Robert Hollenshead offers his insights on the market and where it is going -- info to help your business succeed!
by Robert Hollenshead
5/23/2011 10:09:30 AM

I'll give you a funny story from Friday.  As you may or may not be aware, I take back cars from dealers who make a mistake when they buy - or find something they don’t like - on a very regular basis, 2 to 7 per week.  I do this to maintain the dealers' trust with Manheim Auctions, and with me as part of the perceived value at Manheim PA.  This is done in a general sense to promote the will to participate on simulcast, in my opinion the future of remarketing.
 
A dealer came up to me while I was in the middle of  a rip roaring segment of my lane, and in broken Farsi / English says,  “this car no good,  you take back, the auction lady say you take back.”  I stopped the sale and in front of about one hundred and fifty dealers I said absolutely I take it back, what’s wrong with it.  He said “car is junk, no nice car, I bought it in Lane 19, auction said you take back.”  Needless to say I sell in lane 22, not 19.  The buyer

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by Robert Hollenshead
5/17/2011 10:50:01 AM

I think we set another world record this week.  I sold 557 cars and had to borrow a no-sale from a friend to get home in time for the massage...I sold out...to the walls.  Lane 22 was on fire from bell to bell.  Two times during the day the loal fire company was called to put out the fire. I sold two dealers that were standing in the lane too long.  This lane was smokin' I tell you.  The internet action was retarded.  Four and five colors of Simulcst on line bidding.  Seriously I sold every car in the lane.  Thank you dealers for trusting me.  I love you all.  Without you I have nothing.

It was a red hot market for anything with a good clock and no hits on Car Fax.  The VHR report is frequently wrong and you can't get anything corrected, and buyers will not buy anything for $5,000 off the money with a touch on the report...regardless of what it is.

High price imports are ripping

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