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Article: Cruisin' for bruisin': used cars hit a wall
- Article from:
- The Gazette
- Article date:
- September 18, 2009
- Author:
CopyrightCopyright 2009 The Gazette. Provided by ProQuest LLC. (Hide copyright information)
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Several car dealers in Colorado Springs are reporting sharp price
increases and a drop in availability of affordable used cars on the
wholesale market in the wake of the federal government's Cash for
Clunkers program and the financial turmoil in the new-car industry.
The dealers said the effects are - or soon will be - visible on a
car lot near you in the form of slimmer selections and higher
prices.
One dealer said every late-model used vehicle he's seen lately on
the wholesale market is $2,000 to $3,000 higher than it would have
been a month ago.
The Cash for Clunkers program paid $2.87 billion to scrap 690,114
gas-guzzling cars and trucks, according to the latest statistics.
The number of ...