America’s Car-Mart’s (CRMT) CEO Hank Henderson on Q3 2016 Results
Used car prices certainly aren’t going up
“We are starting to hear some news from the field that the prices certainly aren’t going up, this time in year like they normally do. So, I think that our folks are optimistic that we are going to be in a position to buy a better car for the same of less money this year compared to what we’ve seen in prior years. It’s not anything huge at this point, but we are starting to hear, if that is happening in certain places and certainly that’s we’ve expected to happen for a while.”
Financing environment still competitive
“Well, obviously, we are hearing the same things at the ground level talking with the general managers; at the store level, they aren’t seeing a big change yet. The competition that’s been out there seems to continue to be aggressive. I think what we are seeing more of and one thing that’s helping us is, this is going on long enough that there has been a kind of a cycle with our customers.
Continue to move a lot of trucks and SUVs
“Also, we continue to move a lot of trucks and SUVs, which are in high demand and for the most part carry higher average selling prices. We currently anticipate some increasing overall sales prices for the near-term as demand for the cars we buy is high, especially for trucks and SUVs.”