November 8, 2021 | Market Insights from Bob McConkey.
Where the heck did 2021 go? To me, it has been a blur. It is hard to fathom that it is November. The weather feels like fall and the leaves are coming off the trees, but the used car market doesn’t even remotely resemble a “fall market.”
2021 has been a year like no other. It has been unprecedented in almost every way. And through it all, so many of you have had a tremendous run of business success. For us, we feel truly fortunate to have the customer base we have. While our volume is off, we continue to attract plenty of high-quality product to our lanes every week.
In addition to what we have going on in the lanes, our MAG Now digital auction is offering 400-500 units every Wednesday afternoon. The interesting part about the MAG Now initiative is that it is not cannibalizing our auction lanes. Most of MAG Now’s volume comes from new consignors. Our dedicated physical auction sellers continue to support the lanes while our MAG Now volumes are boosted by dealers who are really dialed into digital selling. Our vision is to meet our customers where they are. Be it online or in the lanes, our commitment is to provide you with the best version of any auction experience.
This week marks DAA Northwest’s 29th Anniversary in Spokane. We will not be celebrating in typical fashion again this year. No Wednesday night Gala for the second year in a row…that saddens me. We will once again fundraise virtually for our non-profit partners, and we will match every penny. Please join us as you are able – make your contribution to Union Gospel Mission, Young Life, Vanessa Behan Crisis Nursery, and Spring of Hope International HERE. They need support more than ever.
I can’t express my gratitude enough for the support we’ve received over the past 29 years. What a journey it’s been. We serve the best dealers on the planet.
I look forward to what the future brings as we usher in the next generation of leadership, blending with us old folks who never want to quit!
Bob McConkey, CEO