June 20, 2022 | A Market Update from Bob McConkey
Although the weather hasn’t given us any hint yet, the summer season is upon us. The economy has been the dominant talk of late, and all of us are right smack in the middle of it. While everything in the car market has been unprecedented, it has indeed been a good run over the past 18 months. Is the run coming to an end? The new car shortage will be with us for the foreseeable future and with it will be inflated prices and decent demand. The feverish pace we’ve experienced is going to subside. We are all seeing it now. Rougher, high-mileage units that were easy to sell are beginning to see resistance in the lanes.
To the extent, this market will pull back is anyone’s guess. If gas prices stabilize along with the overall inflation numbers, we should see a very healthy market going into the fall and 2023. We’ll just have to wait and see – with this and all things, the future is unpredictable.
Speaking of the summer season, DAA Northwest’s 27th Annual Rock & Roll Sale is rapidly approaching. July 20th and 21st are right around the corner, and I hope you have made plans to join us in Spokane for thousands of cars and trucks, a great private party, and Sammy Hagar on the DAA Stage. Concert ticket access codes will be emailed to active DAA Northwest dealers the week of July 5th.
With sales in Spokane, Seattle, online with MAG Now, and in Vegas, our little country store is offering the biggest and best selection of cars and trucks in the West with 2500-3000 consigned units each week. We appreciate the loyal support from you, our growing customer base, and we work hard every week to continue to earn your business.
Thank you – Mark your calendars and make plans for July 20th and 21st! In the meantime, we look forward to seeing you in the lanes soon.
Bob McConkey
President & CEO
McConkey Auction Group