Tax refunds, stimulus checks to fuel used-vehicle sales

Smoke noted that consumer sentiment is improving as COVID-19 vaccines roll out. The positive things happening around the same time for the economy have Smoke expecting an “incredible spring” from a vehicle-sales perspective.

“It’s shaping out to be exactly that and probably even stronger than I thought it could be,” Smoke said. Cox is forecasting a significant increase in retail used-vehicle sales for 2021. “Then our problem is supply.”

Used-vehicle shortages in both the retail and wholesale markets “can only mean that if people are wanting to spend and they’re wanting to buy vehicles, that vehicle prices are going to