The used car trade in the United States is booming. All over the country wholesale?
The used car trade in the United States is booming. All over the country wholesale auction businesses are reporting record sales and prices have rocketed. A 1969 model that would have fetched eleven hundred dollars (GBP 421 sterling) a year ago is now selling for around thirteen hundred dollars (GBP 498 sterling).
It appears that United States citizens are reluctant to spend their savings on new cars, but their hunger for transportation is as keen as ever. Production in the automobile industry is being cut back heavily and by Christmas it is expected that 200,000 motor industry workers will be laid off.
But although they are doing unprecedented business, the used car dealers are no more happy with the situation than the manufacturers. They see it as unbalanced and the sooner things get back to normal the better -- as far as the whole United States motor industry is concerned. They are their business as a barometer of the economic condition of the whole country.