Executive vice president of MAX Digital, which provides inventory management, merchandising and digital retail solutions to dealerships

Latest from Mike Cavanaugh

Mild recession: A V-shaped recovery with prices for 1- to 6-year-old pre-owned cars declining 10 to 12 percent.
Moderate recession: A recovery with prices declining 14 to 17 percent over the coming months.
Severe recession: With more than 30 million Americans having filed for unemployment (a level not seen since the Great Depression), the chance of severe recession and a slow, U-shaped recovery — with 22 to 25 percent declines in pre-owned prices — cannot be dismissed.

Columns

Navigating pre-owned value storm

The economic paralysis from the COVID-19 lockdowns has damaged consumer confidence and, combined with record off-lease supply and new-car incentives, created a perfect storm hitting dealerships.

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