Wednesday, September 15, 2010


USED CAR CRASH: PRICES UP & SUPPLIES DOWN

By Hydra

Somebody in the business sent me an e-mail link to an Automotive News blog lamenting "changes" in the used car market.


The short version: since the economic crash of 2008, car dealers have been struggling to find enough quality used car "inventory." Consequently, prices are up, supplies are down and quality suffers.


At Gerald Jones Honda in Augusta, Ga., owner Andy Jones says used models are
becoming alarmingly scarce. "I normally sell 200 used vehicles a month," Jones
says. "Lately it's been hard to find that many. . . Jones recently traded
for a 2004 Buick Century with 70,000 miles. The dealership paid $6,000 for it,
installed new brakes and tires and made a few minor changes and is now asking
$8,500 for it. Says Jones: "Three years ago, that would've been a $2,500 car."




You don't suppose that senselessly scrapping of a million late-model vehicles in the idiotic "Cash for Clunkers" program hasn't contributed to the used car shortage? Remember: "supply and demand."

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posted by Editor at 07:22

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