Massive October Slide
The average new car dealer-to-dealer trade price plummeted to $1,820 per unit, over invoice, based on 944 trades throughout the month of October.
81% of the traded units that made up this index were Chevy, Jeep, GMC, RAM, and Buick models.
This was a 49.1% decrease from the previous month’s average new car dealer to dealer trade index price.
New vehicle supply has been increasing since May of this year and we’re now seeing over 1.5 million units on the ground, nationally. With the increase in supply, the prices that buying dealerships are willing to pay has dropped significantly.
This is another strong indication that prices for dealer-to-dealer new car trades will continue to fall as supply rises.
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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 6,081 units between new car dealerships.