Strong, Like Bull!

[Rope-Pusher]

The recession changed the automotive industry. No doubt about it. From the bankruptcies in Detroit to how people buy cars, the business just ain’t the same. And that hubbub really impacted the used-car market where prices are shockingly strong. According to Ward’s, in some cases, second-hand vehicles are actually NOT depreciating in value. Blame it on supply and demand. When the economic downturn hit, it gutted new-car sales, taking away between 3 million and 4 million of them. That means there is a much smaller pool of used cars available today. With the soft economy more people are going the preowned route to save money, hence the strong demand and high prices. And according to one analyst, it doesn’t show any signs of letting up. Prices are expected to increase by a few percentage points early next year.