Last updated April 8, 2005

There is not much that has happened during the past month to significantly alter the status of the current wholesale automobile market. There is still a shortage of vehicles, although we have noticed a slight increase in volume both at the auctions and among the independent wholesalers we speak to. We have heard that there is also some increase in the activity at new and used dealerships and a slight uptick in sales, at least enough to keep the supply/demand equation such that the market remains generally strong and particularly strong for the very desirable vehicle.

You may have noticed that many vehicles have experienced increases in their value over the past few editions. In general, the exceptions to these increases have been among the luxury segment of the market where there is generally enough supply to meet the relatively meager demand, especially in the northeastern segment of the country where the supply of luxury vehicles is so great. We expect that the increases may have peaked and that the luxury segment may continue to erode.

Of course sport coupes and convertibles are particularly strong and will probably remain so for a while. Anything unusual by virtue of low mileage, popular color, exceptional equipment or condition or some combination of those factors will continue to bring a premium in this market.