Industry Analysis & Industry Trends
As a result of the recession that began in late 2008, consumers facing unemployment and limited disposable income avoided large discretionary purchases, such as cars. Beginning in 2010, however, the economy began to improve and consumer spending began to rise. Rising demand for used vehicles, particularly for those five years and older, will likely lead growth in the next five years. Nonetheless, many firms are expected to forgo significant expansion of their operations. Rather than expanding into new markets with new locations, dealers will instead prefer to increase inventory at their existing retail outlets, hoping to leverage higher sales from an existing customer base... purchase to read more
Industry Report - Industry Products Chapter
Used car dealers sell used light vehicles, including cars and trucks. Used vehicle sales have risen over the past five years. According to DesRosiers Automotive Consultants, used vehicles generated 56.6% of total vehicle sales in 2000; in 2011, they accounted for 65.0% of revenue (latest data available).
Used light trucks
In 2014, used light trucks are expected to account for 54.4% of industry revenue. The Ford F-series trucks are the most popular trucks among consumers. Growth in used truck sales has fluctuated over the past five years. While demand declined during the recessionary years, it has since picked up, especially in the western provinces where there is a significant rural population... purchase to read more