One of our market GM's pointed out the most recent post from Jasen's LotPop FB Page regarding the hint of a downturn in shopper demand coming. Obviously, buying units now at the current prices may be the ones aging in June/July when shopper demand is low therefore providing a potential threat in retail/wholesale loss. I did dive into our Used leads for one of our largest markets to confirm. YTD YOY we are up 29.8% in Used Leads (all channels/types) but down 15.3% in the last 30 YOY and down 32.2% MTD YOY.
Used VDPs on our largest market site also tell a similar story. Used Unique Pageviews YTD YOY are up 22.5%. 30 days YOY are down 13.2%. Total Used Users are still up but trending down from a 40% YOY increase down to a 20% YOY increase in the last 30 days. Used inventory in this market has been fairly consistent, albiet low, this year.
Interested to know who else is seeing a similar trend? Is it seasonality?
Cars.com SRP per VIN have been in the 1,000 to 1,200 SRP's per VIN consistently and now we're below 700 SRPs per. Same trend in CarGurus.
Thoughts?
Used VDPs on our largest market site also tell a similar story. Used Unique Pageviews YTD YOY are up 22.5%. 30 days YOY are down 13.2%. Total Used Users are still up but trending down from a 40% YOY increase down to a 20% YOY increase in the last 30 days. Used inventory in this market has been fairly consistent, albiet low, this year.
Interested to know who else is seeing a similar trend? Is it seasonality?
Cars.com SRP per VIN have been in the 1,000 to 1,200 SRP's per VIN consistently and now we're below 700 SRPs per. Same trend in CarGurus.
Thoughts?