Industry Analysis & Industry Trends
The Used Car Dealers industry has shifted gears since the economic downturn and has taken off at full speed. During the recovery, relatively high unemployment and limited disposable income caused consumers to cut back on discretionary purchases, such as cars. However, as economic conditions improved and consumer spending began to rise again, consumers released pent-up demand for big-ticket purchases, such as automobiles. In the coming years, rising demand for used vehicles, particularly for those five years and older, will foster industry growth... purchase to read more
Industry Report - Industry Analysis Chapter
Over the five years to 2016, revenue for the Used Car Dealers industry is expected to trend higher. Improving economic conditions encouraged consumers to release pent-up demand for big ticket items such as a vehicle. Additionally, despite rising disposable income, many people are still cautious about spending, and therefore opt to purchase used vehicles instead of more expensive new ones. These positive factors will help revenue rise at an annualized rate of 5.6% to $8.2 billion over the five years to 2016, including growth of 2.8% in 2016.
Furthermore, consumers regard used vehicles as a more economically sound purchase than a new vehicle... purchase to read more