Mexican Media Brands
Used Car Market Revved Up
If you are shopping for a previously owned car or trying to negotiate a trade-in value for your current ride, you are no doubt witnessing the effects of the explosion in the used car business.
#economics
Share
If you are shopping for a previously owned car or trying to negotiate a trade-in value for your current ride, you are no doubt witnessing the effects of the explosion in the used car business. And, as businesses go, few are bigger. "Very few people realize used car sales are probably three times bigger than the new car industry sales. The used car industry really fuels what happens with auto sales," says Sandy Schwartz, president of Cox Automotive, a subsidiary of Cox Enterprises. (CNBC)
RELATED CONTENT
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.