Last updated, Tuesday, July 1, 2003
June has probably been the strongest and most consistent wholesale market we have had this year and there is no reason it should not continue into and perhaps through the month of July. Usually a strong market is the result of short supply, high demand, or both. This spurt in the market seems to be characterized by a short supply. The word is that quality cars and trucks are very scarce, and you simply have to ďpay upĒ to get them.
The one area of softening prices seems to be in the area of sport coupes: Mustangs, Corvettes, etc. Convertibles though, normally over by this time, still appear to have some life left. Perhaps the lack of "convertible weather" has prolonged the selling season and the market. But we would urge caution in buying them on speculation this time of year.
SUVs, although plentiful, are still doing quite well. Strong demand is supporting that segment of the market. As usual, trucks manage to do well if they are properly equipped.
The luxury market seems to be steady, if not great.
We donít see any reason why this market should collapse in the near future. New vehicle sales are relatively slow and the number of trades should continue to be low. We donít see what more the manufacturers can do to spur new vehicle sales, so we expect the good wholesale market conditions to last for a while.