Used Cars and Light Trucks - US - June 2011
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The deep recession experienced in the U.S. from late 2007 to 2009 had a profound impact on the automotive industry, causing a multibillion-dollar government bailout of the automotive industry that included a massive restructuring. Used car and truck sales did not decline as precipitously, due to much lower price points than new cars that made used cars a low-cost alternative for consumers trading down from new cars. However, the recession also caused jittery and budget-constrained consumers to forgo major purchases of all types and drive their currently owned cars for longer.
This report explores the market in the US for used automobiles, including both cars and light trucks. It includes discussion of both person-to-person and dealer/retail sales. Extended warranties, car rentals, car repairs, and automotive accessories are not included in market sale estimates, nor are new car sales and leases (although these may be discussed as competitors).
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