February 22 – 26, 2021 | Market insights and updates from our Las Vegas, Spokane, and Seattle General Managers.
DAA LAS VEGAS:
This past week, we saw a continuation of a strong market with increasing demand for retail ready vehicles. With a sale conversion of 72%, Wednesday capped a record sale month for DAA Las Vegas. Honda and Acura Remarketing, Avis Budget Group, and Westlake Financial all saw high conversions and retention.
Our sales team continues to reach out and grow our base. Week after week, we have seen new buyers not only from the local market but from all over the Southeast. Trucks specifically demand high attention as inventory levels are sparce, especially above base level options.
I am looking towards March with high anticipation and excitement as our team and partners grow in numbers. If you are a dealer in the southwest who has been longing for an opportunity to stretch your legs and bid in-lane, or if you’re a consignor longing for a high level of service, there’s no better opportunity than Wednesdays in Vegas. Thank you to everyone who continues to support us each week.
Joe LeMonds, General Manager
Anyone who attended DAA Northwest’s sale last week saw something remarkable. We had an absolute barn burner across all lanes. A year ago, I wouldn’t have been able to imagine a trade lane with 170 As-Is and White Light units selling 100%. And I really wouldn’t have believed it if you told me that not a single bidder would have been in-lane to listen to the engine or kick the tires. But believe it or not, that’s exactly what happened. The adaptability of you, our buyers, and the trust you have put into our sellers is truly remarkable to me. We are grateful for that trust and work hard to maintain it.
Any product that was clean or close to retail ready had an overwhelming amount of competitive bidding. This week we should see a similar sale: plenty of trucks, new car store trades, Hyundai Motor Finance, and additional clean product ready to be retailed. We don’t see this hot market going anywhere soon. Retail will stay strong, new cars will be hard to come by, keeping used prices high. We appreciate the partnership and value all of you.
Collin McConkey, General Manager
Our monthly MAG Motorsports sale ran Wednesday, and we saw several new buyers and sellers join the action. We continued to experience strong conversion during our Friday virtual sale at 85%, which fell in line with extremely high rates across all MAG auctions. Hyundai and Kia Finance contributed to the overall success of DAA Seattle’s sale and will continue to dedicate EV product to the Seattle market as our buyer base expands. Korum Ford took advantage of the strong trade market while Steve Marshall Ford and Vancouver Auto Liquidation provided late model, high demand product.
Congratulations to the MAG Now team for hitting new weekly milestones while providing an alternative market to source inventory. I’m proud to be a part of a group where everyone is passionate about being of service to our customers and working hard to provide value.
Join us this coming Friday for our Join the Madness promo and your chance to win a stand-up NBA Jam arcade game perfect for the middle of your kitchen or game room. We will have tons of new inventory including vehicles from Honda & Acura Remarketing, Ford (Closed and Open), Wheels Inc., Titus-Will, Burien, Hinshaw’s, Evergreen, Toyota and Honda of Seattle, and more!
Thank you for your continued commitment; if you need additional support or have challenges please reach out to me or any member of our team.
Dave Blake, General Manager