Ear To The Pavement: January Car Market Report

In this “Ear To The Pavement” segment, we are going to share our thoughts on the Automotive market for 2023.

With the predicted improvement in the chip supply, we expect 2023 to bring back relative normalcy to the market. 

Most retailers are predicting a significant improvement in supply this year and the production of new vehicles to be both greater in numbers and more predictable for the future. Will we have an immediate return to pre-2020 new vehicle inventory and production levels? No, and we may not see those supply levels for some time, if ever again. 

The supply chain improvement and potentially tightening economic factors will bring back more pricing competition between new and late-model used cars and the reduction of dealers willing to overpay for your used car. Because it will be easier to obtain a new unit directly from the manufacturer and the manufacturers will support dealers with selling tools such as rebates, cash back, and low-interest rates, which have been largely absent the past couple of years, it will make selling your used own car more like 2019 instead of ’21 and ’22. 

To thrive in this new environment we just have to remember not only how we sold in 2019, but more importantly how we will sell in 2023 and beyond. 

We will utilize all of our resources and take an organized tactical approach to listing your vehicle. We research the current value, and the best market, and make a detailed first-class presentation of our car that is in ready-to-sell condition, and have a step-by-step guide of how to complete the transaction at our fingertips.

-John Patty

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