March Index Climb
The average new car dealer-to-dealer trade price climbed mightily from -$633 under invoice in February, back up to +$2 over invoice in March. This means that new car dealers were, on average, able to receive just over invoice for new units they traded with other franchised dealers.
The March Trade Index is based on 1,171 traded vehicles throughout the month of March.
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68% of the traded units that made up this index were Chevrolet, Ford, Jeep, Nissan, and GMC models.
This month over month change was a monumental climb for the index, which had been falling for the previous nine months since it reached a peak in May of 2022.
National inventory levels were hovering around 1.2M units on the ground last May. And we saw a correlation between inventory levels going up and the average trade price between new car dealers going down.
This past month Chevy and Ford dealers were trading new inventory above the average index price – while Jeep and RAM dealers were still trading new units well below the average index trade price.
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About the New Car Average Dealer-to-Dealer Trade Price Index
Dealer Trade Network’s New Car Monthly Dealer-to-Dealer Trading Price Index shows the average monthly price, relative to the vehicle’s invoice price, that new car dealerships pay other new car dealerships for new units.
About Dealer Trade Network
Dealer Trade Network uses market data and machine learning to help new car dealerships turn their floorplan faster, leading to increased revenue and higher margins. Over the last 12 months, the company facilitated the trade of 7,284 units between new car dealerships.
