Market Insight: We Rocked it | Rock & Roll 2022

July 22, 2022 | Market Insights from Bob McConkey

 

To quote John Lennon, “If you tried to give Rock & Roll another name, you’d call it Chuck Berry.” – Chuck played the DAA Stage in 1997. 

To quote Neil Young, “Rock & Roll is here to stay” – this from the song “Hey Hey My My.” Well at DAA Northwest, Rock & Roll is back, and it is here to stay. Sammy Hagar gave us all a big dose of it from the DAA Stage Wednesday night! I hope you all enjoyed the show. 

The Rock & Roll Sale was excellent with 3,345 consigned and 1,900 sold (and counting) as the sales team continues to glue deals together. 

Yes, the market is experiencing some long-anticipated headwinds, but there is no market crash or collapse in site. The dynamics that have created these unprecedented times are still alive. Expensive fuel, rising interest rates, and banks’ more conservative lending policies are all contributing to the change, but the inventory shortage and stubborn overall economic strength that the Fed is trying to squash still exist. 

We have seen this movie many times and we will all persevere and thrive through and beyond the adjustment. 

Thank you all for a great week, not just in terms of cars sold but in terms of fun at work—we love what we do!