In the January edition of the Manheim Consulting Auto Industry Brief, chief economist Tom Webb said that he expects used car sales to climb in 2010.<\/p>\n
“Used-vehicle retail sales are inherently stable and are supported by the 250 million vehicles in operation and the 118 million households that own them,” said Webb, quoted by Auto Remarketing Magazine.<\/p>\n
“That means, on any given day, there are literally tens of thousands of households that would like to trade up to something a little better, if they can do so for an affordable payment,” he added.<\/p>\n
Over the past two years, the number of consumers looking to trade-up to a higher quality used vehicle has decreased due to a slow job market and tighter credit restrictions. However, Webb noted that he expects the availability of retail financing to improve in the coming year, making it easier for consumers to obtain used car loans.<\/p>\n
Meanwhile, Manheim’s chief economist also mentioned that independent dealers of new cars may continue to experience financial issues due to the national struggle to obtain floor plan and capital loans.<\/p>\n","protected":false},"excerpt":{"rendered":"
In the January edition of the Manheim Consulting Auto Industry Brief, chief economist Tom Webb said that he expects used car sales to climb in 2010. “Used-vehicle retail sales are inherently stable and are supported by the 250 million vehicles in operation and the 118 million households that own them,” said Webb, quoted by Auto […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[6,18],"tags":[],"yoast_head":"\n