MONROE, OHIO (PRWEB) February 8, 2006
Slightly rising dealer inventories combined with the relative stability of used car prices pushed the GetAuto.com Used Vehicle Index lower in February. The GetAuto.com Used Vehicle Index (UVI), which employs information gathered on automotive dealers’ lots by Dealer Specialties, was created to help both buyers and sellers make an intelligent choice in the used car transaction.
Last month the UVI stood at 98.88 – indicating favorable conditions existed for the used car buyer. An Index score above 100 signals that the purchasing environment is less desirable for the buyer – a sign that consumers may want to spend more time researching their perfect used car, may want to consider buying a new car, or may want to verify the book value of a car at websites like NadaGuides.com. In February the Index moved in favor of the used car buyer – to 98.23.
“We are noticing a slight, yet statistically significant increase in overall dealer inventories this month,” commented Andy Warner, Data Partner Manager for Dealer Specialties, “This, coupled with flat pricing, was enough to drive the UVI down.”
This should be welcomed news for consumers faced with fluctuating prices at the gas pump and an annual inflation rate above 3%.
The GetAuto.com Used Vehicle Index (or GAUVI as it’s being called in the offices of Dealer Specialties) supplies consumers and dealers with more knowledge about the current used car market than the typical automotive index. Using unique, proprietary indicators, the index provides consumers with a strong gauge of national trends in the used vehicle industry, while at the same time informing Dealer Specialties’ nearly 10,000 dealer-customers about overall market conditions.
“The relatively mild winter has allowed dealers to turn their used cars a little faster now than in the past,” noticed Glen Garvin, Dealer Specialties’ East Coast General Manager, “though we’re not really seeing the expected upward tick on the sticker price because they’re replenishing their inventories just as quickly.”
The UVI, which is updated monthly, is based on GetAuto.com’s ever-changing inventory of over 500,000 vehicles. Indicators contributing to the GetAuto.com Used Vehicle Index include relative age of dealers’ inventories, amount of time vehicles remain on dealers’ lots, used car prices with respect to inflation, vehicle mileage, and the quantity of used vehicles per dealer.
“Technology has made automotive dealers a lot smarter with regard to carrying the proper product mix,” offered Stephen Stauning, General Manager of Dealer Web Services for Dealer Specialties, “While you would expect this to mean higher relative prices for consumers, the reverse is really true.”
GetAuto.com began tracking the UVI in January 2005. So far, just one month has delivered an Index above 100: that was February 2005 when the UVI crept upward to 100.06. Since then, consumers have enjoyed a relative “buyer’s market” in the used car industry.
For more information, or to review the GetAuto.com Used Vehicle Index, please visit http://www.GetAuto.com.
About Dealer Specialties
Dealer Specialties, a division of Trader Publishing Company, is the nation’s leading provider of data, photo and video collection services, descriptive used-vehicle window stickers and Internet data distribution services. Dealer Specialties employs more than 750 field technicians located in 48 states to service nearly 10,000 automobile dealerships. Each month, their technicians physically view and collect data on more than 500,000 used vehicles. The detailed vehicle data, photographs and videos are sent electronically to dealers’ own websites and to over 2,000 other partners. Dealer Specialties has built relationships with some of the most powerful and well-known services on the Web, such as AutoTrader.com, AutoMart.com, GetAuto.com, TraderOnline.com, The Cobalt Group, Autobytel, Cars.com, as well as most manufacturer web sites. To learn more about Dealer Specialties, please visit our website at http://www.dealerspecialties.com.
About Trader Publishing Company
Formed in 1991, Trader Publishing Company is the nation's leading publisher of specialty classified advertising publications, including over 750 paid and free magazines such as Auto Trader, For Rent, Harmon Homes and The Employment Guide. Dedicated to satisfying consumer demand for efficient targeted advertising, these magazines are complemented by Trader's over 40 market leading Internet sites (Traderonline.com, ForRent.com, Homes.com and Roomsaver.com), each designed to serve a specific category like the automotive, specialty vehicle, apartment rental, homes for sale, employment and lodging segments. It also provides website hosting services for over 12,000 real estate agents, car dealers, and other specialty vehicle businesses. With over 335,000 outlets, it boasts the largest paid and free distribution publication network across the U.S.; and it operates 11 regional printing plants. Trader's over 10,000 employees serve its customers through offices in most major cities in 47 states.
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