Black Book reports auction inventory up and sales results down, again
It’s normal for wholesale prices to decline this time of year, but this decline is in excess of normal. In addition, in Black Book’s October 4th Market Insights report, they reported that sales rates, the percentage of vehicles sold decreased, declined while retail inventories rose. Blame some of it on Hurricane Ian, but overall, auction results are not looking good. If repossession volumes are indeed on the increase, this could spell for large losses to lenders everywhere.
Wholesale auto market declines for 10th straight week – Repossession – Credit Union Collections – Credit Union Collectors
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