Wednesday, October 15, 2008

What's Changed

Since we published the October Market Report a lot has happened in the world. 

The DOW is down 13% in October alone. New car sales are at a 15-year low. General Motors and Chrysler are talking about a merger. And the credit markets have apparently lost their minds.

As all of you probably know the global turmoil has had some substantial effects on our world as well. Prices on luxury and exotics are under real pressure. In the last 2 weeks, 29 of the 72 models we covered in last month's report have dropped by more than 2.5%. (To put this into perspective, that's 75% better than the S&P 500.)

At iLUXCARS, we felt that you needed to have this information today, so we updated the October Market Report with prices as of today (October 15th). You can download the updated report by logging into your account now.

The good news, no kidding, is that many of our members are buying cars. In many cases they are paying a bit less for the vehicle than they would have last month, but deals are still being made. In fact, we're actually seeing more activity this month that we did in August or September.

The biggest change we've seen is that our members are increasingly using iLUXCARS as an extension to their own inventory and a way to make retail deals. This makes a lot of sense to us, of course. 

It's simple, really - if you have a customer looking for something specific chances are we can find it. There really isn't any better way to make a deal. Enter a new vehicle request and we'll get to work. Fast. 

So, a lot has changed. The trick is to adapt. Download the new report. Pay attention to Live Trades. And make SURE you enter your vehicle requests. We'll probably find it.