Market Conditions Commentary
Dog Days of Summer - August 7, 2011
by Robert Hollenshead
Aug 7 2011 9:23AM
The market change is on.  Incentives are kicking in. There are many instances where units are simply unsellable based on the logic that was used when they were bought.  

My theory is sell straight through so you know what the real money is, adjust your brain and attack accordingly.  Buy smart to the current situation, never hold trying to outsmart trends.  That's what we did and it shook out at 93% of 624 units and an average net.  From my experience it is exactly where I like to be when the market is flipping.  

High-line was very good for non-lease return looking cars.  Anything with a little look or stuff that is a little older is red hot.  Sports cars and coupes are thousands under where they were two weeks ago.  Good loaded domestics are ripping good and the right SUVs, loaded up in and in color, are irrationally good.  I can't figure it out, but Highlanders have been difficult over the past few weeks.  Weird.  Junk needs a Medivac.  There is no floor on old, high mile SUVs.  They have to be free or you can't give them away.  It's at the point where I am thinking about the proverbial field to store them for tax season.  If it weren't against my grain to keep cars more then two days, I'd do it.

We have another tsunami of units coming this week so pay attention and take advantage of a half witted Irishman.  Bid early and bid often because I will be selling regardless of price.

Sell Well,

Robert Hollenshead