Like many retailers, Zeigler Auto Group of Michigan has always had a policy of turning used vehicles quickly because used cars and trucks depreciate in value as they sit on the lot.
Or at least they used to.
"We are now off of doing that because [used vehicles] are appreciating," company President Aaron Zeigler told Automotive News. "And we believe that they're going to continue to appreciate moving forward with the lack of new cars."
Zeigler and other dealers are living through an unprecedented time in the used-vehicle market. A perfect storm of factors has led to high demand and low supply — and skyrocketing wholesale values.